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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • The US Dollar Index traded higher last week, sustaining its broader uptrend. Conflicting technical signals urge caution, but the directional bias remains skewed to the upside. Get your weekly USD technical forecast from @FxWestwater here:
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • The Australian Dollar still remains vulnerable as it extends losses against its major counterparts. What is the road ahead for AUD/USD, AUD/JPY, AUD/NZD and AUD/CAD? Get your AUD technical forecast from @ddubrovskyFX here:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here:
  • Take a closer look visually at the most influential global importers and exporters here:
  • EUR/USD tumbled last week on the day of the ECB’s latest policy announcement, and that weakness is set to continue this week as a flood of major Eurozone economic statistics is released. Get your weekly Euro forecast from @MartinSEssex here:
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • Gold price action is primed for volatility next week with the Fed decision on deck. How real yields and the US Dollar react to fresh guidance from Fed officials will be key for gold outlook. Get your weekly gold forecast from @RichDvorakFX here:
ECB Stimulus Intent Leads Oil, Stock Rallies while Gold Flattens

ECB Stimulus Intent Leads Oil, Stock Rallies while Gold Flattens

Nathalie Hyunh,

Talking Points:

  • Gold traded sideways ahead of next week’s FOMC, BoJ
  • Oil rallied above $30 in spite of another crude build reported by EIA
  • Copper held up on stimulus prospect alongside an equity rally

Gold price traded sideways for another day ahead of the weekend in Asia. In spite of a return of risk sentiment, gold investors are likely cautious of U.S. FOMC meeting next week. The prospect of European Central Bank cutting rates in its March meeting helped to ease pressure on gold. Bullion still consistently garnered inflows as investors run for cover amid wild volatility.

Oil price surged on a second day above $30, even into $31s in mid-afternoon Asia. That amounted to 4.6 percent in WTI and 6 percent in Brent, providing support to commodity currencies and equities. Oil gains accelerated after ECB last night hinted at impending stimulus, and China reiterated at Davos summit that its government would clamp down on harmful market speculations.

However the rally may turn out short-lived as crude inventories continued to be in excess. U.S. Energy Information Administration reported crude stocks rose by 3.98 million barrels in the week ended January 15.

Copper price held on to topside of yesterday’s rally, as a renewed risk rally spread over Asian markets and commodities. Prospect of stimulus from central banks is causing a sweep of optimism at least until this week ends. Copper price would undoubtedly benefit from any equity gains in London and New York sessions.

GOLD TECHNICAL ANALYSIS – Gold price stayed firmly above 20-day moving average at 1085.4 as it traded sideways with a touch of upside bias, heading to 2016 high at 1113. Recent flatness and a waning of momentum signals indicate no serious threat to resistance.

ECB Stimulus Intent Leads Oil, Stock Rallies while Gold Flattens

Daily Chart - Created Using FXCM Marketscope

COPPER TECHNICAL ANALYSIS – Copper price is challenging 2.0020 resistance level as it enters a 5th consecutive day of gains. Any breach of this level will bring copper back into the consolidation range up unto 2.2025. Failure to break could result in profit-taking ahead of next week.

ECB Stimulus Intent Leads Oil, Stock Rallies while Gold Flattens

Daily Chart - Created Using FXCM Marketscope

CRUDE OIL TECHNICAL ANALYSIS WTI oil jumped above 10-day moving average and into 30s area for the first time since last Friday. Resistance is now 20-day MA at 32.90. The rise past every big figure from here could bring with it high volatility and renewed downward pressure. Overall, oil is on an optimistic course into next week.

ECB Stimulus Intent Leads Oil, Stock Rallies while Gold Flattens

Daily Chart - Created Using FXCM Marketscope

--- Written by Nathalie Huynh, Currency Strategist for

Want to read market’s momentum: Speculative Sentiment Index

Losing Money Trading Forex? This Might Be Why.

Contact and follow Nathalie on Twitter: @nathuynh

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