The US stocks continue to depreciate due to profit taking from last week`s gains

The US stocks continue to depreciate due to profit taking from last week`s gains

By: Oliver Miller | Where To Trade | On:Wednesday, 30 November 2016
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   Where to Trade - The S&P 500 heads lower as the US stocks continue to depreciate due to profit taking from last week's gains. In the previous session, the S&P 500 closed at 2,203.75.

The Loonie is expected to head lower against the dollar as Canadian GDP is supposed to contract. The CAD GDP will be made public at 14:30 GMT. The CAD/USD pair had a previously closing at 1.3432.

The EUR/USD pair is expected to be very volatile during ECB President Mario Draghi´s speech at 13:30 GMT. The pair had a previously closing at 1.0650.

As US ADP Non-Farm Employment Change will be released at 14:15 GMT, the Dollar should find support against the Yen. The JPY/USD pair previously closed at 112.38 in the last session.

Video Summary:

  • United States of America: Dollar is under pressure as Chicago PMI missed expectations
  • Europe: Euro heads lower as Italy slipped back into deflation
  • Italy: Italian HICP dropped back into deflation
  • Canada: The Loonie heads lower as Crude oil prices rally
  • The US stock markets: The S&P 500 is under pressure  as the US shares lower amid profit taking
Oliver Miller

Oliver Miller

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