- In the Economic Calendar of today, we can expect volatility in CAD
- At 12:30 (GMT) the National Statistical Office of Canada will announce the number of the Building Permits for new construction projects
- That number indicates the movement of corporate investments, therefore the Canadian economic development
- The US Labor Department announced on Friday 06.03.2020, that the US Economy added 273,000 new jobs during February.
- USD unemployment rate fall to 3.5% from 3.6% since last month
- Crude Oil at $30 ,26% down
- US Indices down more than 1%
- EU Indices down more than 3.5%
On the Charts
- The Silver price reacted below at 50% Fibonacci Retracement level, at 17.6 (From 18.95 to 16.40)
- Price now is at 16.90 below the 20 and 50 Days Moving Averages
- 20 Days Moving Average (blue) crossed to the downside the 50 days Moving Average (black)
- Momentum is bearish, since ROC (9 periods) and MACD are below zero
- We may see the price moving lower to the previous support level at 16.40 and a break below that level could push the price to 16.00.