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Markets stall ahead of long weekend

Posted on: May 26, 2017

The YouGov poll in UK showing a sharp decrease of the lead by the conservative party puts pressure on the GBPUSD as it slipped below the 1.29 support and sit just above 1.28 in early trading.

The on going saga of the FBI investigation into Russian connections continues as Trump’s son-in-law Jared Kushner is now reportedly the focus of the investigation. Trump’s public relation team must be having a rough month as negative press hammers the president once again.

USDCAD fails to break through 1.35 area overnight as the oil price stabilizes after a 7% drop yesterday post OPEC. I feel that USDCAD may have one more push to test the 1.3300/50 area that should have buyers waiting.

If you are looking to do some business today, it’s better to do it early during the day as liquidity should thin out materially in the afternoon as we head into the US Memorial Day weekend.

  • Previous Day’s NA Range 1.3405 - 1.3493
  • Overnight range 1.3433 - 1.3497

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Most Recent Market Updates

November 20, 2017

Natural gas gains 4.4 cents

NYMEX natural gas climbed 4.4 cents higher on Friday.

November 20, 2017

Crude gained $1.41

Crude prompt futures gained $1.41 on Friday to close the day at $56.55.

November 17, 2017

Natural gas falls 2.7 cents

NYMEX natural gas continued it’s decent on Thursday.

November 17, 2017

Crude prices slide $0.19

Crude prompt futures traded in a 69 cent range.

November 17, 2017

USDCAD range bound as Canadian CPI uneventful

Domestically we saw the biggest release of the week a few minutes ago.

November 14, 2017

Natural gas loses 5 cents

Cold weather emerged over the long weekend in the US Midwest to East as anticipated.

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