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
Bearish
Oil - US Crude
Bearish
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
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true. Simplify your trading strategy with these four indicators here: https://t.co/fYgcMxImlP https://t.co/kkekBVYvhV
  • 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/VwIkOMpvYl
  • “The UK and EU have agreed to return to the negotiating table to try to agree a post-#Brexit trade deal. But on Friday, a joint statement said ‘significant divergences’ remained.” - BBC News #GBP
  • Multiple time frame analysis follows a top down approach when trading and allows traders to gauge the longer-term trend while spotting ideal entries on a smaller time frame chart. Learn how to incorporate multiple time frame analysis here: https://t.co/Sy3g6HGLrR https://t.co/aRfVCRZut3
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/rJznrXkcYz https://t.co/uUh18lR3yK
  • The rising wedge is a popular reversal pattern that is predictive in nature and can give traders a clue to the direction and distance of the next price move. Incorporate the rising wedge in your trading strategy and learn more here: https://t.co/zTTk2WOrj9 https://t.co/q5oBalZieU
  • Both the S&P 500 and $EURUSD will enter the coming week with momentum to their back. What can trip up the rallies? What could keep them going? My overview for the week ahead: https://www.dailyfx.com/forex/video/daily_news_report/2020/12/05/SP-500-and-EURUSD-Rallies-Face-Different-Conviction-Questions-.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/YfEXEhkbhl
  • After the recent strength of EUR/USD, a period of consolidation is likely ahead of two critical meetings: of the European Central Bank and the European Council. Get your $EURUSD market update from @MartinSEssex here:https://t.co/Slu7tHo2a4 https://t.co/9am4szeia1
  • Triangle patterns have three main variations and appear frequently in the forex market. These patterns provide traders with greater insight into future price movement and the possible resumption of the current trend. Learn about triangles here: https://t.co/ZukLITx2KG https://t.co/gvkXqKDQyH
  • Continuation patterns can present favorable entry levels to trade in the direction of the prevailing trend. Use continuation patterns in your technical analysis here: https://t.co/TUVnO3bO1P https://t.co/vBLkMKjf4x
Guest Commentary: Gold and Silver Outlook September 17-21

Guest Commentary: Gold and Silver Outlook September 17-21

2012-09-17 19:15:00
Lior Cohen, Commodities Analyst, TradingNrg.com,
Share:

During last week, gold and silver increased, mainly on Thursday following the publication of the FOMC decision to commence with QE3 that will include the Fed buying mortgage backed securities at a pace of $40 billion per month. There were several other reports that were published during last week, such as U.S Consumer Price Index that showed a rise of 0.6% in August and U.S PPI that also hiked by 1.7%.

The video report on gold and silver has an outlook for the main publications and events that may affect precious metals during September 17th to 21st. Some of these news items include:

Wednesday: U.S. Housing Starts & Building Permits: housing starts was historically correlated with gold price – as housing starts decreased, gold prices tended to rise the next day (even when controlling to the U.S dollar effect); in the previous report, the adjusted annual rate reached 754,000 in July 2012, which was 1.1% below June's rate; on the other hand building permits rose by 6.8% (M-o-M) in the adjusted annual rate of building permits and reached 812,000 in July.

Thursday: Philly Fed Manufacturing Survey: In the previous August survey, the growth rate rose from -12.9 in July to -7.1 in August. If the index will remain negative it may adversely affect not only U.S Dollar but also American stock indexes, and commodities;

Thursday: ECB President Speech: Mario Draghi is likely to refer to the recent German Court ruling, and he may also refer to the future monetary steps the ECB will take in order to jump start the EU economy and lower the borrowing costs of the struggling EU economies such as Spain and Italy. This speech might affect the Euro to US dollar exchange rate;

In conclusion, I guess gold and silver will continue to rise on a weekly scale but at an even slower pace then they did during recent weeks. The hike in bullion rate on Thursday, mainly due to announcement of the FOMC to launch QE3 is likely to have some lingering effects on the prices of bullion. Further, the positive news from Europe regarding the German Courts to approve the bailout helped the recovery of the Euro and consequently also rallied commodities. The upcoming ECB President speech could also affect the Euro. The upcoming interest rate decisions by Japanese Bank could affect the forex markets if the bank will change the rate or expand its monetary easing plan. The main U.S reports of the week will be the U.S Philly Fed survey, housing starts, existing home sales and jobless claims. If these reports will show growth, this could rally the commodities and stocks markets. The Chinese manufacturing survey could adversely affect commodities rates if the index will further fall.

By Lior Cohen 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