USD/CAD at key resist – Japan yields likely higher [Video]
![USD/CAD at key resist – Japan yields likely higher [Video]](https://editorial.fxsstatic.com/images/i/USDCAD-bearish-line.png)
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Kim Cramer Larsson
KCL Consult
Kim Cramer Larsson hosts the Daily Technical Update, a daily 15-20 minutes video with live charts.
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GBP/USD holds steady at around 1.3200 in the European session on Friday after closing in positive territory on Thursday. Still, the cautious market mood makes it difficult for the pair to gather bullish momentum as investors remain focused on US-Iran conflict and the volaility surrounding global technology shares.
EUR/USD gains traction in the European session on Friday and rises to the 1.1400 area. The US Dollar (USD) struggles to find demand and helps the pair edge higher as investors keep a close eye on headlines coming out of the Middle East and the action in global technology stocks.
Gold moves sideways in a tight channel above $4,000 after posting modest gains on Thursday. Nevertheless, the precious metal finds it difficult to gather bullish momentum as markets grow increasingly concerned about a hawkish Federal Reserve policy outlook.
Ripple (XRP) trades near the key psychological support level of $1 after losing more than 8% so far this week. CoinGlass liquidation data shows that over 97% XRP long positions were wiped out over the past 24 hours. In addition, derivatives metrics continue to favor the bears.
Asian equity markets on Friday are significantly down as price hikes announced by Apple Inc. due to memory chip shortages have prompted fears of high inflation globally and concerns on earning projections of various companies that rely on these sophisticated chips for their final products.
The rate did not move. That was the least interesting thing about Kevin Warsh's first meeting in charge of the Fed. The FOMC held its benchmark at 3.50%-3.75% for the fourth straight meeting, exactly as priced, and then the new chair used his first press conference to dismantle the machinery the market has leaned on for a decade.
