TheNews

The update to the US Consumer Price Index (CPI) may sway USD/CAD as the Federal Reserve struggles to reduce inflation. The daily price is breaking 1,2934 resistance level to above for the primary daily bullish trend to be continuing, alternatively - the price will be on secondary ranging above Ichimoku cloud waiting for direction.

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Economic data continues to influence the fundamental backdrop with Bitcoin (BTC/USD), Ethereum (ETH/USD) & Cardano (ADA) benefiting from easing recession fears.

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The U.S. dollar is likely to stay supported in the near term on bets that the Fed will remain committed to a hawkish tightening cycle amid red-hot labor markets and elevated inflation. July U.S. inflation data will steal the spotlight next week.

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Gold's recent rally stalls as the latest NFP report tempers recession fears for now.
The daily price is on secondary rally within the primary bearish marjet condition: the price is trying to cross resistance level at 1,794 to above for the rally to be continuing and the possible daily bullish reversal to be started.

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The Australian Dollar jumped around through the week, with an RBA rate hike and Fed speakers undermining it before trade data provided some support. Where to for AUD/USD?
The daily chart is on ranging near and below Ichimoku cloud and Fibo support level at 0.6906 for trying for the bearish trend to be continue or for the primary daily bullish reversal to be started.

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