USDCAD Momentum and Bitcoin’s Oversold Risk: Market Breakdown

The equity space is feeling the heat today as a wave of profit-taking sweeps through the tech sector. Broadcom’s unchanged long-term AI guidance took the wind out of the semiconductor industry's sails, dragging down major heavyweights like Nvidia [1][2]. At the same time, Microsoft dropped over 3% as immediate selling pressure hit the software giant [3][4]. On the macro side, US initial jobless claims ticked up to 225,000 [5], while Q1 unit labor costs came in cooler than projected at 1.8% [6]. This softer labor data gave the Euro a modest lift toward $1.164 as market participants mulled the…