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
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • 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/Q0yRRpMpPX
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here: https://t.co/eILWbFgHRE https://t.co/pSeSiNnmHe
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/reRmDe1Ksp https://t.co/iVOEuK40rn
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here: https://t.co/SQUCCYRCIk https://t.co/ltEO5dpKux
  • WTI crude oil is currently trading up against major resistance via the 2019 and 2020 highs within the confines of a channel; something has to give. Get your market update from @PaulRobinsonFX here: https://t.co/MO9foRjm2y https://t.co/YhBFdvZDEb
  • The Dow Jones and S&P 500 outlook appears bleak in the near term as retail traders increase their upside exposure. At the same time, these indices confirmed bearish technical warning signs. Get your market update from @ddubrovskyFX here:https://t.co/fKCHELbOxo https://t.co/eVDwmFTaIg
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/8B8hqHahm1
  • The US Dollar finished off an eventful week after CPI and retail sales injected volatility into markets. FOMC is now in the Greenback’s sights as taper talks linger. Get your market update from @FxWestwater here: https://t.co/MHi0lfQ93j https://t.co/4XetwYAaNd
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/ZZRLV0Wkea
  • The Nasdaq 100 index has likely formed a bearish Gartley pattern, which hints at further downside potential. Negative MACD divergence on the weekly chart suggests that upward momentum may be fading. Get your market update from @margaretyjy here: https://t.co/GkMEkVA7YR https://t.co/E1vyCMVt6K
Guest Commentary: Gold & Silver Daily Outlook 07.20.2012

Guest Commentary: Gold & Silver Daily Outlook 07.20.2012

Lior Cohen: Commodities Analyst,

Bullion changed direction and rose on Thursday after they had declined for three consecutive days. The U.S reports that came out yesterday and showed a mixed signal: the U.S rate of existing home sales declined by 5.4%; US jobless claims also changed direction and rose to 386k; the Philly Fed index slightly rose but was still negative. On today's agenda: Great Britain Net borrowing, and Canada's Core CPI.

Gold price rose on Thursday by 0.61% to $1,580.4; Silver also increased by 0.45% to $27.2. During July, gold declined by 1.48% and silver by 1.43%.

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

Guest_Commentary_Gold_Silver_Daily_Outlook_July_20_2012_body_Gold_July_20.png, Guest Commentary: Gold & Silver Daily Outlook 07.20.2012

St. Deviation of Bullion

Due to the modest changes in the bullion markets during the month, the volatility of precious metals prices slightly declined during July compared with June's, as the current standard deviations of gold and silver (daily percent changes) are at the lowest level for this year.

The linear correlation of the two precious metals daily percent changes slightly declined during month but is still strong and robust, as indicated in the chart herein. During July the linear correlation of their daily percent changes reached the lowest level since January; this means the two metals' relation has loosen in recent weeks.

Guest_Commentary_Gold_Silver_Daily_Outlook_July_20_2012_body_Correlation__2012_July.png, Guest Commentary: Gold & Silver Daily Outlook 07.20.2012

On Today's Agenda

Canada's Core CPI: According to the Canadian CPI report for May 2012, the CPI rose by 1.2% during the past 12 month up to May – this is a slightly lower rate than in April. This report might affect the Canadian dollar, which is also strongly linked with bullion rates;

Great Britain Net borrowing: this report will show the monthly developments in the public sector net borrowing for June 2012; as of May 2012, the net borrowing reached to £15.6 billion;

Daily Outlook

Bullion may have changed direction and rose along with the rest of the financial markets including oil rates and U.S stock markets. This rally might not last long and precious metals prices might resume their descent. The little improvement in the Philly Fed may have contributed to the rally in commodities rates. The ongoing slowdown in the housing market may have also contributed to the rise in bullion. The Canadian report CPI might affect the Canadian dollar which tends to be linked with bullion.

For further reading:What Are the Main Factors Affecting Gold Price?

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