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Greetings, Everyone and Welcome to Wednesday!
Our “usual” Commodity Currency Focus Day is upon us, as we check in on Crude Oil due to the EIA Inventories Data later, as well as checking in with the Australian Dollar and Gold in consideration of their recent Strength and Bullish Sentiments.
Let’s jump right in and pull the Loonie and Aussie Units from a broader Daily perspective… and since our “Correlations” with Gold and Oil have been In Concert lately, we will pull these two Units on the Hourlies to see the “Momentum-Drive” behind the Bullish sentiment for all Four Products.
The EIA looks to falling Stockpiles in the Data Points by around 1.5M Barrels, so we will certainly monitor this as the Release comes out at 14:30 GMT.
( Canadian CPI will also be a factor in this Correlation between these Two a bit earlier at 11:00 GMT… )
Give the Captures a Click for Commentary, as always… and Post-Time is 1:00 GMT as we work through the Asian-Pacific Sectors.
( * The NYMEX Contract Expiry is referenced here… as always. )
We will stay with the Australian and Canadian Dollars, and “Reverse” the Views with a move to the Hourly Views on these two as well… as we reach our next Update right around 8:00 GMT.
Please join me, as always, for the “Currency majors Technical Perspective” Report right around 7:00 GMT… as we check on more IntraDay Detail due for the Four Major Pairs!forex history
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