forex Canada November GDP 1/31

Canada's stronger-than-expected November GDP report makes an interest-rate cut look less likely in the near term, Capital Economics says. Statistics Canada reported a slight 0.1% advance in November GDP from the previous month, surpassing market expectations for a flat reading. CapEcon's Stephen Brown anticipates the December data will show at least a 0.2% monthly gain, which he said should be enough to convince policy makers their fears of a further slowdown are unwarranted. That kind of advance in December "will ensure the Bank keeps policy on hold in the coming months

Silver Ounce 1/31

	The following assumptions that have been made: - At least 20 pip forecast - The key level and chart pattern were at most 5 candles apart at time of identification

	Symbol : COMP Silver Ounce (USD)

Direction : Identified time : 2020-01-31 16:03 GMT Breakout price : 18.0504 Forecast price : 18.49112 Forecast pips : 44 Probability : 64.55 %

Pattern : Double Bottom Interval : 30 Min Pattern : Resistance Interval : 30 Min

forex chart GBP/JPY 1/30

	The following assumptions that have been made: - At least 20 pip forecast - The key level and chart pattern were at most 5 candles apart at time of identification

	Symbol : GBPJPY

Direction : Identified time : 2020-01-31 01:01 GMT Breakout price : 142.866 Forecast price : 143.13151 Forecast pips : 27 Probability : 64.16 %

Pattern : Ascending Triangle Interval : 30 Min Pattern : Resistance Interval : 30 Min

US Dollar 1/29

The US Dollar strengthened against the Euro and British Pound overnight but eased slightly against the Japanese Yen and Swiss Franc, both boosted by haven flows. It left the Dollar Index futures almost unchanged at New York’s close.

In the developing market space, local Asian currencies continue to hold their own for now, despite concerns about a Wuhan virus-induced slowdown in the region. The retreat in regional currencies has been more of a slow grind than a full-blown charge for the exit, perhaps reflecting the currency market’s preference for more information on the evolution of the Wuhan virus situation. It also reflects the lack of extreme positioning evident in equity and bond markets.

USD/CNH continues to trade around 6.9800, unable or unwilling to test, and or break, the pivotal 7.0000 level. That implies that official selling interest lies in wait up here, helping to “calm” things.

Overall, US Dollar strength is expected to continue, boosted by yields and haven flows into US treasuries.

forex chart USD/INR 1/29

	The following assumptions that have been made: - At least 20 pip forecast - The key level and chart pattern were at most 5 candles apart at time of identification

	Symbol : USDINR

Direction : Identified time : 2020-01-29 15:01 GMT Breakout price : 71.344 Forecast price : 71.435 Forecast pips : 910 Probability : 59.77 %

Pattern : Triangle Interval : 60 Min Pattern : Resistance Interval : 60 Min