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
Wall Street
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
  • RT @KyleR_IG: Restrictions to be eased in Victoria as the state records three new COVID-19 cases
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.88% Silver: -0.04% Gold: -0.20% View the performance of all markets via
  • 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:
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.19% 🇦🇺AUD: 0.06% 🇨🇦CAD: 0.04% 🇬🇧GBP: -0.04% 🇪🇺EUR: -0.05% 🇨🇭CHF: -0.07% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in USD/CHF are long at 75.86%, while traders in France 40 are at opposite extremes with 82.70%. See the summary chart below and full details and charts on DailyFX:
  • Dow Jones Retreats Ahead of FOMC, Nikkei 225 and ASX 200 Open Lower
  • 🇦🇺 Westpac Leading Index MoM (MAY) Actual: -0.06% Previous: 0.19%
  • MSCI #EmergingMarkets Index (EEM), which is heavily weighed in Chinese stocks, has been struggling to breach the 54.97 - 55.34 inflection zone A hawkish #Fed (especially amid ebbing #PBOC liquidity measures), could risk weighing the index Breach under 20-day SMA exposes MAR low
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • Natural gas spot prices have been on the rise, recapturing a key trendline, following the EIA’s Short-Term Energy Outlook. Where can prices head from here? Find out from @FxWestwater here:
Gold Prices Drop on Easing Deutsche Bank Jitters, Fed-Speak in Focus

Gold Prices Drop on Easing Deutsche Bank Jitters, Fed-Speak in Focus

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Gold prices drop most in a month as Deutsche Bank shares bounce
  • Hawkish Fed-speak may boost US Dollar, pressure gold still lower
  • Crude oil prices stuck in choppy range as OPEC meeting continues

Gold prices plunged yesterday, falling alongside the TED spread measure of credit risk as shares in Deutsche Bank recovered after a steep intraday loss. The lender has faced heavy pressure recently amid fears that paying a $14 billion fine sought by US regulators will dangerously deplete the firm’s capital. Indeed, the IMF has said Deutsche is the single biggest source of systemic risk in the global banking system. The Euro fell alongside the yellow metal, seemingly reflecting a deflating premium on cash.

Deutsche shares gapped higher at the open of European trade in today, with gold and the common currency dutifully declining. Continued moderation opens the door for Fed policy speculation to re-enter the spotlight. Scheduled commentary from Chair Yellen as well as four regional branch Presidents (Bullard, Evans, Mester and George) is on the docket. A hawkish tone echoing Yellen’s near-promise of a December rate hike may boost the US Dollar, pressuring gold downward.

Crude oil prices appear to be waiting for guidance for from an informal OPEC meeting happening on the sidelines of the International Energy Forum (IEF) in Algiers before showing directional commitment. A flurry of comments from the sit-down seemed aimed at lowering investors’ expectations. Representatives from Saudi Arabia and Iran said the talks are “consultative” ahead of a formal OPEC summit in November.

The markets’ disappointment has been limited thus far, which may reflect moderating hopes for an accord over recent weeks or wistful hopes for a last-minute breakthrough as the IEF goes into its final day. If the latter proves to be the case, selling pressure may yet strengthen as cartel officials head home, leaving bulls empty-handed. Weekly EIA inventory data may offer a boost in the former scenario if expectations of a 2.4 million increase are bested. An estimate from API pointed to a 752k barrel draw yesterday.

Track short-term crude oil and gold price patterns with the GSI indicator!

GOLD TECHNICAL ANALYSISGold prices recoiled from trend line resistance in place since early July, posting the largest daily loss in nearly a month. From here, a daily close below support in the 1303.62-08.00 area (May 2 high, 38.2% Fibonacci retracement) exposes the 50% level at 1287.29. Alternatively, a move above the trend line – now at 1341.01 – aims double top resistance at 1367.15.

Gold Prices Drop on Easing Deutsche Bank Jitters, Fed-Speak in Focus

CRUDE OIL TECHNICAL ANALYSISCrude oil prices remain locked in a choppy range above the $44/barrel figure. A break above 46.02, intersection of the 23.6% Fibonacci expansion, and a falling trend line, exposes the September 8 high at 47.72. Alternatively, daily close below the 38.2% level at 44.20 targets the 42.73-43.02 area (50% Fib, September 1 low).

Gold Prices Drop on Easing Deutsche Bank Jitters, Fed-Speak in Focus

--- Written by Ilya Spivak, Currency Strategist for

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

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