Gold – Massive buying climax in the background and institutional selling [Video]
![Gold – Massive buying climax in the background and institutional selling [Video]](https://editorial.fxsstatic.com/images/i/discover-50.png)
Sell trade idea.
Author
Petar Jaćimović
FXCentrum
Petar Jaćimović was born on 8 July 1989 in Jagodina, Serbia.
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Bitcoin, Ethereum and Ripple trade with a mild positive bias on Wednesday as sentiment improves across the cryptocurrency market. BTC is testing its 50-day Exponential Moving Average, ETH has broken above a key resistance level at $1,800, while XRP has found support around a key level.
The Bank of Canada is widely expected to keep its policy rate unchanged at 2.25% on Wednesday. The central bank will announce its policy decision at 13:45 GM. This would be the sixth consecutive event with the central bank keeping its hand steady. The BoC left its policy rate unchanged at 2.25% last month, as widely anticipated.
The June CPI fell 0.4% on the month, the largest one-month decline since April 2020, dragging the annual rate to 3.5% from May's 4.2% and snapping a three-month acceleration streak. Core prices went nowhere, flat on the month and down to 2.6% YoY, both under consensus.
