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
Subscribe
Please try again
EUR/USD
Bullish
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
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
Gold
Mixed
GBP/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
USD/JPY
Mixed
More View more
Real Time News
  • 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/AjOSPzOFLb
  • What are some trading takeaways from 2020, as we jump into the new year? Find out with your free guide here: https://t.co/e7udCTJlmf #DailyfxGuides https://t.co/eqklbOEJMa
  • 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/p9Pkkbo2zf
  • The docket thins out over the coming week, but there are a few serious market highlights that can make for some interesting opportunities in the week ahead. $GBPUSD has the technical chops and fundamental confluence (US CPI, UK GDP, etc) https://www.dailyfx.com/forex/video/daily_news_report/2021/05/08/Dollar-Tumbles-Dow-Hits-Record-Highs-and-Dogecoin-Traders-Tune-In.html https://t.co/BMUQ0xVOge
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfIZNKr https://t.co/nBfJcptUDK
  • Dogecoin continues to trade higher with explosive energy, attesting to the cryptocurrency's new clout. Meanwhile, Bitcoin and Ethereum sink. Get your market update from @FxWestwater here:https://t.co/ohw714KqB2 https://t.co/EWxKoQykv1
  • Natural gas prices moved higher, capturing a long-term trendline that could support the heating commodity's price in the coming weeks as colder temps support fundamental side. Get your market update from @FxWestwater here:https://t.co/tGUDJE9hn0 https://t.co/nROsrJa1sv
  • The Euro may fall against the US Dollar amid a historically strong month for the Greenback and relative bond yield spreads. EUR/USD appears to be eyeing bearish technical warning signs. Get your $EURUSD market update from @ddubrovskyFX here:https://t.co/njTDk8Ehoi https://t.co/w4II63utz1
  • The US Dollar is still struggling against most ASEAN currencies. USD/SGD remains downside-focused despite recent gains. USD/THB is eyeing a triangle. USD/IDR and USD/PHP may point lower. Get your market update from @ddubrovskyFX here:https://t.co/6Nvvmz8h6d https://t.co/TYsfOXHrro
  • (Weekly Fundamental) Australian Dollar Outlook: AUD/USD May Rise on Dovish Fed Speak After Huge NFP Miss #AUD $AUDUSD https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2021/05/07/Australian-Dollar-Outlook-AUDUSD-May-Rise-on-Dovish-Fed-Speak-After-Huge-NFP-Miss.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/L9pERwjTqh
Guest Commentary: Gold & Silver Daily Outlook 07.12.2012

Guest Commentary: Gold & Silver Daily Outlook 07.12.2012

Lior Cohn: Commodities Analyst,

Gold declined again for the second consecutive day. Silver, on the other hand edged up. The recent minutes of the June FOMC meeting didn't provide any hints of possible implementations of QE program in the near future. Several FOMC members also voiced their concerns over the effects the stimulus plans will have on the long term inflation pressures. American Trade Balance was published yesterday and showed a mixed signal: there was a decline of $1.9 billion in the deficit during May compared to April; the deficit reached in May $48.7 billion; the decline was due to a rise in exports and a fall in imports. There are many items on today's agenda including: China Second Quarter GDP 2012, ECB Monthly Bulletin, U.S. Jobless Claims, Great Britain 10 Year Bond Auction, and ECB President Draghi will give a speech.

Gold price declined on Wednesday by 0.26% to $1,575.7. Silver rose by 0.52% to $27.02. During July, gold declined by 1.78% and silver by 2.13%.

The chart below presents the normalized rates of these precious metals during July (normalized to 100 as of June 29th).

Guest_Commentary_Gold_Silver_Daily_Outlook_July_12_2012_body_Gold__July_12.png, Guest Commentary: Gold & Silver Daily Outlook 07.12.2012

Despite the different directions gold and silver took yesterday, the linear correlation of the two precious metals is still strong and robust, as indicated in the chart herein. During July the linear correlation of their daily percent changes reached the highest level in 2012 so far, which means the two metals' relation has tighten in recent weeks.

On Today's Agenda

China Second Quarter GDP 2012: the current expectations are that the Q2 2012 grew in annul terms by only 7.5%; if the growth rate will be lower than in the previous quarter it might adversely affect commodities prices;

U.S. Jobless Claims: in the latest report the jobless claims declined by 14k to 374,000; this upcoming weekly report may affect the U.S dollar and consequently bullion rates;

Daily Outlook

The minutes of the FOMC meeting didn't provide any hints for a possibility of QE3 in the near future. Therefore precious metals might further decline during the remainder of the week.

The upcoming GDP report of China could affect the commodities markets; if the report will show a lower growth rate in Q2 than in Q1, this could pull down major commodities rates. The U.S jobless claims could affect the forex markets which in turn could also affect precious metals. Finally, if the Euro and other risk currencies will continue to decrease, then they are likely to also pull down bullion.

For further reading:Gold and Silver Monthly Outlook for July

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