News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • USD/JPY and GBP/JPY may reverse lower in the near-term as both exchange rates fail to breach key resistance. CAD/JPY rates eyeing a retest of its post-crisis high. Get your market update from @DanielGMoss here:https://t.co/NptWy89cTa https://t.co/wbPm8lD0C0
  • - S&P 500 unimpressed by ongoing fiscal talks as #election nears - Third and final presidential debate coming up: what to expect - Why might the #SP500 index target an inflection point 3361? https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/10/20/SP-500-Uninspired-by-Fiscal-Talks-Ahead-of-Final-Presidential-Debate.html
  • Join @ddubrovskyFX 's #webinar at 8:00 PM ET / 0:00 GMT to find out what information you can gain from knowing what other traders are buying or selling. Register here: https://t.co/Bb3CTCTm44 https://t.co/k1eyZzhAWa
  • The British Pound may fall if EU and UK negotiators fail to reach a consensus as the December 31 deadline nears. The third presidential debate is on deck, how might markets react? Find out from @ZabelinDimitri here:https://t.co/kDSYzBDA3t https://t.co/wmltuIVo5h
  • #BTC testing confluent resistance at the Ascending Channel midpoint and September high (12067) RSI hints at further gains as it surges towards overbought territory Is #Bitcoin poised to break back above key resistance at the $12,000 mark? https://t.co/YCPnKq0VcJ https://t.co/EgHA4jELhI
  • I thought it was make or break today by the close on whether they can get a fiscal stimulus before the Nov 3rd election... https://t.co/YgwnE9vDXC
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.48% 🇪🇺EUR: 0.45% 🇨🇭CHF: 0.32% 🇯🇵JPY: -0.06% 🇦🇺AUD: -0.27% 🇳🇿NZD: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/0YPpZ9dwBY
  • USD/JPY Price Outlook: Dollar-Yen Undermined by Fiscal Stimulus Hopes Link to Analysis via @DailyFX: https://www.dailyfx.com/forex/market_alert/2020/10/20/usdjpy-usd-jpy-price-outlook-dollar-yen-undermined-by-stimulus-hopes.html $USDJPY $USD $JPY #FX #Forex #Trading https://t.co/yNss3yhgt7
  • It’s been relatively quiet in FX-land, but the USD did push below a big zone of support earlier today. Get your $USD currency pairs technical analysis from @JStanleyFX here:https://t.co/ZC8g3lVxoO https://t.co/lchSrr9hBO
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.02% Gold: 0.15% Oil - US Crude: -1.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/SN5ZJQwiRu
Gold-FOREX Correlations Torn Between US Yields, Fed Expectations; Yen Strongly Mirrored

Gold-FOREX Correlations Torn Between US Yields, Fed Expectations; Yen Strongly Mirrored

2012-03-19 02:36:00
David Liu, Technical Strategist
Share:

The following table includes the correlation between gold and the most popular currency pairs over various timeframes. A value close to +1 indicates a strong positive relationship between gold and the pair, while a value close to -1 indicates a strong negative relationship. Colored values indicate week-to-week changes of over 30%.

---------------------------------------------------------------------------------------------------------------------------------

Gold

USD/CAD

AUD/USD

NZD/USD

EUR/USD

GBP/USD

USD/JPY

USD/CHF

3 Day 15 Min

-0.48

0.30

0.42

0.25

0.31

-0.41

-0.34

1 Week 60 Min

-0.32

0.17

0.34

0.46

-0.40

-0.93

-0.56

2 Week 60 Min

-0.31

-0.68

-0.68

-0.65

-0.68

-0.21

0.66

1 Month Daily

0.46

0.69

0.76

0.78

0.24

-0.74

-0.77

Gold-Forex Correlations for the previous week can be found here.

Weekly Commentary: As yields on US treasuries reached multi-months highs in the past week following a less dovish fed, investors sold non-yielding assets against the US dollar, including dollar and yen. Further expectations buoyed by better data coming out of the United States, signaling a possible US-led recovery, contributed to selling of other currencies including the Euro and British Pound. As cross-market correlations shift from being risk-driven to rates driven, gold’s correlations with other zero or low yielding currencies are expected to continue.

Despite a lack of major data on the US docket for this week, traders will be looking forward to scheduled speeches by members of the FOMC, including Chairman Bernanke, New York Fed President Bill Dudley and Chicago Fed President Charles Evans. As gold is still largely driven by its anti-dollar status, signals that the Fed will try to control the rally in US yields may be the main driver for this week for both the Greenback and the precious metal.

Gold-Forex_Correlations_03192012_Gold-torn-between-yields-commentary_body_x0000_i1029.png, Gold-FOREX Correlations Torn Between US Yields, Fed Expectations; Yen Strongly MirroredGold-Forex_Correlations_03192012_Gold-torn-between-yields-commentary_body_Picture_1.png, Gold-FOREX Correlations Torn Between US Yields, Fed Expectations; Yen Strongly MirroredGold-Forex_Correlations_03192012_Gold-torn-between-yields-commentary_body_Picture_2.png, Gold-FOREX Correlations Torn Between US Yields, Fed Expectations; Yen Strongly MirroredGold-Forex_Correlations_03192012_Gold-torn-between-yields-commentary_body_Picture_3.png, Gold-FOREX Correlations Torn Between US Yields, Fed Expectations; Yen Strongly MirroredGold-Forex_Correlations_03192012_Gold-torn-between-yields-commentary_body_Picture_4.png, Gold-FOREX Correlations Torn Between US Yields, Fed Expectations; Yen Strongly Mirrored

-- Written by David Liu, DailyFX Research

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES