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. See our updated Privacy Policy here.

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
Subscribe
Please try again
Oil - US Crude
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
More View more
Real Time News
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here: https://t.co/BPHuKecwnz https://t.co/73OmuCKfU9
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/KzhQnGiLyt
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/cuneuJNZlH
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/danCiP5vqK
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/JhYoQ7I19K
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here: https://t.co/BEYupi32qB https://t.co/PWeXE8tZVY
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/t34kotPE8R
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/lM1OIJdjhr
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8youtX https://t.co/6qGEVjDlN6
  • Although the medium-term outlook remains negative, Bitcoin could make a bullish move in the coming days if prices manage to hold above key support in the $29,150/28,600 region. Get your #Bitcoin forecast from @DColmanFX here: https://t.co/T7iAD0fbbU https://t.co/xVSG7nKIQG
Guest Commentary: Gold & Silver Daily Outlook 04.17.2012

Guest Commentary: Gold & Silver Daily Outlook 04.17.2012

Lior Cohen, Energy Analyst for Trading NRG,

Gold and silver didn't do much yesterday however things might change today seeing that there are many news items on today's agenda including: Great Britain CPI, German and Euro Area ZEW economic sentiment, U.S. Housing Starts and Building permits, Bank of Canada's Overnight Rate and ECB President Draghi Speaks.

It will be interesting how all these items and events will play out today and affect the financial markets (if at all).

Gold declined on Monday by 0.63% to $1,649; silver also slipped by 0.05% to $31.37. During April, gold decreased by 1.33% and silver by 3.42%.

The chart below presents the changes in gold and silver during the month (prices are normalized to March 30th).

Guest_Commentary_Gold_Silver_Daily_Outlook_04.17.2012_body_Gold_17.png, Guest Commentary: Gold & Silver Daily Outlook 04.17.2012

On Today's Agenda

U.S. Housing Starts and Building Permits: the housing starts was historically correlated with gold; if the housing starts will decline again as they did in the previous month this could rally bullion prices (the recent U.S building permits and housing starts review);

ECB President Draghi Speaks: Following the April ECB rate decision in which the rate remained unchanged at 1% the President of the European Central Bank will speak and may refer in his speech to the recent events in Spain and may talk about the ECB's plan to calm the markets including implementing LTRO 3 or resuming the SMP. His speech may influence the Euro/USD which is strongly linked with metals;

Forex / Gold & Silver– April

The Euro/USD bounced back and rose on Monday by 0.49% to 1.3142; on the other hand, yesterday the AUD slightly depreciated against the U.S. dollar by 0.14%. These currencies tend to be positively and linearly correlated with the daily percent developments of bullion. Thus, if Euro and AUD will both trade down, they may signal metals may also drop.

Daily Analysis

Bullion continued their downward trend from Friday and slipped on Monday; this trend however might change direction if there will be some good news from Europe: the upcoming reports regarding Germany and EU might do the trick; if the ECB President will refer to another rescue program by the ECB this could also be a positive news to rally the Euro and thus metals are likely to benefit as well and rise. On the other hand, if the U.S reports will be positive (housing starts), then the USD may rise and thus gold and silver might continue their descent.

This gold and silver forecast was first presents in Trading NRG

For further reading:

Weekly Outlook for 16-20 April 2012

Gold and Silver Prices Weekly Outlook for April 16-20

By: Lior Cohen, M.A. in Economics, Commodities Analyst and Blogger at Trading NRG

Would you like to see more third-party contributors on DailyFX? For questions and comments, please send them to research@dailyfx.com

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

DISCLOSURES