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
GBP/USD
Bearish
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
  • Further your forex knowledge and gain insights from our expert analysts on AUD with our free guide, available today: https://www.dailyfx.com/free-trading-guides?ref-author=social#forecastschoices=AUD?QPID=30472&CHID=9 https://t.co/LHJi7CNFmM
  • $EURUSD https://t.co/KZyXX6p2oI
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here: https://t.co/MZtBh8pYG3 https://t.co/1zNf5dpDjU
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10la3j https://t.co/z8z6BNudn5
  • #PELOSI SAYS WE ARE GOING TO PASS THE INFRASTRUCTURE BILL THIS WEEK PELOSI SAYS SHE WILL NEVER BRING TO THE HOUSE FLOOR A BILL THAT DOESN'T HAVE THE VOTES TO PASS $USD $SPX $XAUUSD
  • Short-term uncertainties to keep the pressure on equity markets. Get your weekly equities forecast from @JMcQueenFX here: https://t.co/JLMDPZKvN8 https://t.co/YbdJnwoqj1
  • 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/hqW38VawJl
  • - Unreal atmosphere - Shame about the result, but no complaints - Usyk masterclass - Heavyweight division blown wide open https://t.co/BKCLJTDk9h
  • The USD could still rally a bit from here, but has resistance not far ahead that it will need to overcome if it is to extend to a larger degree. Get your weekly $USD technical forecast from @PaulRobinsonFX here: https://t.co/n0CVWWOJDe https://t.co/0uLjsQ2gwM
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here: https://t.co/D8DXSAdpqC https://t.co/nfiFAlyYXv
Gold to Shine as FOMC Curbs Longer-Run Interest Rate Forecast

Gold to Shine as FOMC Curbs Longer-Run Interest Rate Forecast

See the Full 4Q Forecast for Gold in the new Trading Guide posted on the DailyFX Guides Page.

Gold prices may exhibit a more bullish behavior over the remainder of the year as Federal Reserve officials adopt a less-hawkish tone and project a more shallow path for the benchmark interest rate.

Even though the Federal Open Market Committee (FOMC) appears to be on course to deliver three rate-hikes in 2017, Chair Janet Yellen and Co. now forecast a terminal interest rate well below 3.00% as ‘overall inflation and the measure excluding food and energy prices have declined this year and are running below 2 percent.’ The downward revision in the longer-run interest rate forecast suggests the FOMC is inclined to halt the hiking-cycle ahead of schedule, with bullion at risk of exhibiting a more bullish behavior especially as it breaks out of the downward trend from 2012.

Gold Weekly Chart

Gold to Shine as FOMC Curbs Longer-Run Interest Rate Forecast

Last quarter we noted that while the broader outlook for gold prices remained constructive, “the risk remains for a material set-back before resumption of the broader up-trend,” with our bullish invalidation level steady at 1209. Indeed the first week of the third quarter saw prices come under considerable pressure with gold rebounding sharply off (low registered at 1205) support and is poised to close the third quarter up more than 5.3%.

The subsequent rally and breach above slope resistance extending off the 2016 highs kept the long-bias in play with the advance reversing of channel resistance in early September trade. Interim support rests at 1295 with our broader bullish invalidation level now raised to 1240.

Gold prices could still see some downside early in the fourth-quarter but the focus remains higher while above 1267.

See the Full 4Q Forecast for Gold in the new Trading Guide posted on the DailyFX Guides Page.

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

DISCLOSURES