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
EUR/USD
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
Oil - US Crude
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
Wall Street
Bullish
Gold
Mixed
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • 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/HnzQcAXWLU https://t.co/A517hC0JAG
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/1G7CRsegRX https://t.co/jBFhVRWLyy
  • Copper prices seem to have stalled just shy of key chart resistance as geopolitical tensions weigh on the global-growth proxy. Get your copper market update from @ddubrovskyFX here:https://t.co/qseySE5dWP https://t.co/u0HoA9tVvz
  • The #Euro may pay the price for the EU’s stance on its digital sovereignty while the US Dollar eyes closely-scrutinized US fiscal stimulus talks. Get your $EURUSD market update from @ZabelinDimitri here:https://t.co/Ga3DdHod7j https://t.co/Mfhb5iqLF6
  • The Indian Rupee struggled to benefit from an unexpected RBI rate hold as the Nifty 50 inched closer to invalidating a bearish reversal signal. What is the road ahead for USD/INR? Find out from @ddubrovskyFX here:https://t.co/Zjiay6hQWT https://t.co/TvedUlvwxd
  • While the balance sheet did not set higher highs US initial jobless claims fell to their lowest since the middle of March If you invert jobless claims, it set a higher high alongside #SP500 #FoodForThought ahead of the weekend, and have a good one! https://t.co/n6SaEdnpMi https://t.co/AKNYNlUa4l
  • Copper prices seem to have stalled just shy of key chart resistance as geopolitical tensions weigh on the global-growth proxy. Get your copper market update from @ddubrovskyFX here:https://t.co/qseySE5dWP https://t.co/zuQMaDqScY
  • When is a 1.76 million jobs added to the US economy underwhelming? When it is still 12.88 million jobs from the pre-pandemic level and economists warn the subsequent gains are going to slow sharply... https://t.co/IUMBsiGYYC
  • The New Zealand Dollar may extend its surge from yearly lows as it tentatively signals a cyclical upturn. NZD/USD, NZD/JPY rates poised for further gains. Get your market update from @DanielGMoss here: https://t.co/vrOuFkvWpX https://t.co/wKbQNFAZbn
  • The US Dollar is testing key support levels against the Singapore Dollar, Malaysian Ringgit, Philippine Peso and Indonesian Rupiah following persistent losses. Get your #ASEAN currencies market update from @ddubrovskyFX here: https://t.co/qqYDELqydd https://t.co/nh7SspnIzF
Gold Price Jumps after Yellen Dovish Remarks, Copper Price Slides

Gold Price Jumps after Yellen Dovish Remarks, Copper Price Slides

2016-03-30 07:43:00
Nathalie Huynh,
Share:

Talking Points:

  • Gold price rose as Fed Chair Yellen emphasized caution in Fed rate policy
  • Oil price pared losses after data of a smaller than expected inventory build
  • Copper price hit three-week low on Yellen’s outlook concerns

Crude oil prices cut losses late in New York session after data showed a smaller than expected build in crude inventories. The American Petroleum Institute published an inventory figure of2.6 million barrels in the week to March 25, compared with 3.3 million barrels expected.

Gold prices jumped to a daily high of $1243.1 after hitting a one-month low on Monday as buyinginterests returned after Federal Reserve Chair Janet Yellen said the Fed should proceed cautiously in interest rate policy. Her comments diverged from the recent hawkish remarks from other Fed members. U.S. Treasuries rallied with 2 and 10-year notes hitting four-week highs, as the market expected a more gradual pace of rate hikes.

Copper prices hit a three-week low of $2.1920 on Wednesday due to global growth concerns expressed in Ms. Yellen’s remarks. Looking ahead, China’s reviving property market will likely boost sales of steel, copper and other construction materials. However the outlook for metal demands remains gloomy as the Asian Development Bank downgraded its economic growth forecast for Asian developing economies in 2016.

Need a hand to start trading: Free Guides

Want to read market’s momentum: Speculative Sentiment Index

Losing Money Trading Forex? This Might Be Why.

GOLD TECHNICAL ANALYSIS – Gold prices rose although they still fell short of a medium-term trend line. An immediate support level at 1207.6 held firmly. Current momentum signals indicate an upside potential in gold prices. Resistance levels are in the 1265-1282 area.

Gold Price Jumps after Yellen Dovish Remarks, Copper Price Slides

Daily Chart - Created Using FXCM Marketscope

COPPER TECHNICAL ANALYSIS – Copper prices dropped for a second consecutive session. This price slip brought attention to the 2.1485 support level. Similar to the case of oil, a downward pressure is prevalent in copper chart. Investors should watch out for a test of the support level.

Gold Price Jumps after Yellen Dovish Remarks, Copper Price Slides

Daily Chart - Created Using FXCM Marketscope

CRUDE OIL TECHNICAL ANALYSIS Oil prices traded below the $39 mark today as a downward momentum persisted. This level may act as a resistance level while oil prices fluctuate according to broader market developments. An immediate support level is at 34.79.

Gold Price Jumps after Yellen Dovish Remarks, Copper Price Slides

Daily Chart - Created Using FXCM Marketscope

--- Written by Nathalie Huynh, Currency Strategist for DailyFX.com

To receive Nathalie’s analysis directly via email, please SIGN UP HERE

Contact and follow Nathalie on Twitter: @nathuynh

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

DISCLOSURES

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.