In the FX market, the US Dollar managed to bounce against the major currencies on Wednesday. Meanwhile, gold failed to hold yesterday’s gains after reaching a high of $2032 per ounce.
Looking at the latest developments in the US stock market, the Dow was up 0.24% backed by a strong performance of healthcare stocks, however, both the S&P500 and the Nasdaq composite lost 1.07% and 0.25% respectively.
Later today, traders will be waiting for the employment figures from Canada. Employment change is expected to have declined in March from 21.8K to 12.0K, on the opposite, the unemployment rate is due to rise from 5.0% to 5.1%.
In the US, initial jobless claims are expected to rise from 198K to 200K.
Below, we will be analyzing the latest price action developments in the major currency pairs alongside gold.