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Test session low at $1775.02

GOLD
  • Gold drifts lower, with a small bid emerging in USD.
  • MNI tech support in Gold is at $1760.4 - Bull Channel base drawn from the Aug 9 low
  • DXY is near session high, but the USD is nonetheless still mixed in G10.
  • USD is down surprisingly against the CAD, with the move looking more of an unwind, with some market participants looking to fade circa the 1.2800 handle.
  • The pair did print 1.2837 high on Tuesday, which was the highest level since late September.
  • Oil isn't a factor in early trade, as the Dollar is up 0.22% versus the NOK.

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