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
  • Crude oil prices collapsed on Monday despite an OPEC+ breakthrough, driven by Covid-induced demand woes. Meanwhile, Gold is at odds with a stronger US Dollar and falling Treasury yields. Get your #crudeoil market update from @FxWestwater here:https://t.co/H1vmag8d1k https://t.co/1zuPdKUmyE
  • AUD/USD is likely to face increased volatility over the coming days as it faces a batch of key event risks going into the end of July. Get your Australian Dollar forecast from @DavidJSong here: https://t.co/qFpg0DCxxL https://t.co/quQxg4WBy3
  • The US Dollar outlook against ASEAN currencies like the Singapore Dollar, Thai Baht, Indonesian Rupiah and Philippine Peso remains bullish amid capital outflows risks as Covid cases swell. Get your market update from @ddubrovskyFX here:https://t.co/vRUVxvQP8o https://t.co/cUEkW9BfIP
  • Is investing in your favorite brand or buying its products the better financial move? Read the article for a breakdown. https://t.co/iWOlDAK8cD https://t.co/0uS5VvWj12
  • Crude oil prices collapsed on Monday despite an OPEC+ breakthrough, driven by Covid-induced demand woes. Meanwhile, Gold is at odds with a stronger US Dollar and falling Treasury yields. Get your #crudeoil market update from @FxWestwater here:https://t.co/H1vmag8d1k https://t.co/PW5pCw9dKR
  • The Japanese Yen has been making a comeback, but it may soon resume its decline against the US Dollar as USD/JPY consolidates within a bullish Falling Wedge. Watch for a breakout. Get your market update from @ddubrovskyFX here:https://t.co/zxRWoNR4lS https://t.co/bXTx0TSRmU
  • BTC/USD treading water sideways, 28600 the big level to watch. ETH/USD working on forming a nice-looking descending wedge. Get your market update from @PaulRobinsonFX here:https://t.co/H1qOV4FR1P https://t.co/tjutUl7Nt7
  • Gold hasn’t been very active the past few sessions, but that could change next week and provide a stronger trading bias. Get your weekly gold technical forecast from @PaulRobinsonFX here: https://t.co/HaEe3i4Sug https://t.co/LsARS2mnFI
  • Market uncertainty sees GBP pairs break out of their ranges. Get your weekly GBP forecast from @HathornSabin here: https://t.co/IRO7a6Jv8J https://t.co/4LxWz7sOVF
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.01% 🇪🇺EUR: 0.01% 🇨🇦CAD: -0.03% 🇬🇧GBP: -0.16% 🇦🇺AUD: -0.21% 🇯🇵JPY: -0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/AXKeEsin95
Guest Commentary: Gold & Silver Daily Outlook 09.25.2012

Guest Commentary: Gold & Silver Daily Outlook 09.25.2012

Lior Cohen: Commodities Analyst,

The prices gold and silver declined on the first day of the week along with other commodities and forex rates such as Euro and AUD. The Euro market is still waiting for Spain to request the ECB to commence its bond purchase program. The announcement of the FOMC to launch QE3 seems to have dissipated. Did yesterday's falls were a bit sharp that could result in a correction? On today's agenda: German Consumer Climate, ECB President Speech, Canada's Retails Sales and U.S Consumer Confidence.

On Today's Agenda

U.S Consumer Confidence: according to the recent monthly update, the consumer confidence index fell in August (M-o-M). The current expectations are that the September index may rise; this report might affect commodities markets;

Canada's Retails Sales: This report will show the shifts in the retails sales in Canada during July 2012. It may affect the direction of USD/CAD currency pair, which is strongly linked with commodities rates. In the previous report regarding June, retails sales declined by 0.4%;

ECB President Talks: Mario Draghi will talk in an annual event "Day of the German Industries". In his speech he might refer to the future monetary steps the ECB will take. This speech might affect the Euro to USD;

Currencies / Bullion Market – September Update

The Euro/ USD declined on Monday by 0.39% to 1.2931. Further, other currencies including AUD also depreciated yesterday against the USD by 0.3%. As indicated in the chart below, there are still strong linear correlations among Euro, AUD, CAD and precious metals rates: during August/September, the linear correlation between the gold and EURO/USD reached 0.64 (daily percent changes). Following the recent shift in the market sentiment, if the bearish market sentiment towards the Euro and other risk currencies will continue, it is likely to further drag down gold and silver.

Guest_Commentary_Gold_Silver_Daily_Outlook_September_25_2012_body_Correlation.png, Guest Commentary: Gold & Silver Daily Outlook 09.25.2012

Daily Outlook

The bearish market sentiment in the Euro Area might continue to affect not only the Euro/USD but also commodities rates. Today's publications including Canada's retail sales, German consumer climate and U.S consumer confidence could affect the Canadian dollar, Euro and US dollar, respectively as indicated above. China's money rate hiked to a 7-month high plausibility due to a shortage in cash. Finally, if the Euro will continue to fall, this could pull down bullion rates.

For further reading: Gold And Silver | Outlook for September 24-28

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