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
Mixed
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
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
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
  • #Gold saw its worst performance the past 5 days in 5 months as longer-dated government bond yields in developed countries rose Could this be the beginning of a turning point in #XAUUSD? https://www.dailyfx.com/forex/fundamental/forecast/weekly/chf/2020/08/15/Gold-Price-Outlook-Will-XAUUSD-Brush-off-Worst-Week-in-5-Months.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/x2Indk3b7P
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/PT09ZsIOCa
  • The US #Dollar may rise, buoyed by haven demand as fiscal stimulus talks stagnate and swelling tensions between Washington and Beijing sink trade talks. Get your #currencies update from @DanielGMoss here: https://t.co/Wcw9PDUr67 https://t.co/gnYZYl6aLV
  • Upside in #CrudeOil struggling ahead of #OPEC meeting. Cartel likely to maintain wait and see approach. Get your #commodities update from @JMcQueenFX here: https://t.co/gNHHKoTUzm https://t.co/eF40DRIBJ5
  • #Gold had some big moves last week, and while vol is expected to die down a bit, it will be important to see if gold can hold its ground in the coming days/weeks. Get your #metals update from @PaulRobinsonFX here: https://t.co/N8a84hRnHN https://t.co/3fjodPHTDm
  • The S&P 500's refusal to hit a record and Dollar's anchor to range this past week is sign of summer liquidity conditions, but the quiet is not insurmountable. 'S&P 500 Record and Dollar Break Look to Stimulus and Trade to Override Seasonality' https://www.dailyfx.com/forex/video/daily_news_report/2020/08/15/SP-500-Record-and-Dollar-Break-Look-to-Stimulus-and-Trade-to-Override-Seasonality-.html https://t.co/mbvPkdQfYl
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/DmhBkcMZBK https://t.co/kFk6ccU3Sk
  • 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: https://t.co/ADSC4sIHrP https://t.co/aXSB0bG3y0
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/1G7CRsegRX https://t.co/i342ipPuvW
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/tHp0Nb3Tr5
Gold Prices Retreat as Fed Rate Hike Bets Retake the Spotlight

Gold Prices Retreat as Fed Rate Hike Bets Retake the Spotlight

2017-02-20 05:05:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • Gold prices turn lower as Fed rate hike speculation heats up anew
  • Crude oil prices remain locked in a narrow consolidation range
  • US Presidents Day holiday may mark pause in trend development

Gold prices turned lower on Friday when it became clear that a G20 foreign ministers’ meeting passed without major incident (as expected). The move played out inversely of a rise in the US Dollar and Treasury bond yields as well as a steepening of the priced-in rate hike path implied in Fed Funds futures.

This hints that monetary policy speculation returned to the forefront as geopolitical jitters receded. Not surprisingly, this proved detrimental for the yellow metal considering hawkish comments from Fed Chair Yellen and unexpectedly strong CPI data on offer.

Prices remain on the defensive after upbeat remarks form Cleveland Fed President Loretta Mester offered the greenback a further lift. Follow-through may be muted in the near term however as US markets remain shuttered for the Presidents Day holiday, draining the stock of relevant news-flow.

Crude oil prices remain locked in a narrow range as traders weigh up the influence of OPEC’s output cut scheme against growing swing supply. Indeed, Baker Hughes data showed that the number of US rigs in operation rose to a 16-month high last week. Standstill will probably continue through the holiday lull.

Are gold and crude oil prices matching DailyFX analysts’ first-quarter bets? Find out here!

GOLD TECHNICAL ANALYSISGold prices put in a bearish Dark Cloud Cover candlestick pattern after testing now-familiar resistance near February’s swing top. A prior test in the same area produced a still-valid Bearish Engulfing setup. On balance, positioning hints a double top may be in the works. A daily close below the 23.6% Fibonacci retracement at 1215.75 exposes the 38.2% level at 1197.99. Alternatively, a push above the 23.6% Fib expansion at 1245.29 targets 1263.05, the 38.2% threshold.

Gold Prices Retreat as Fed Rate Hike Bets Retake the Spotlight

Chart created using TradingView

CRUDE OIL TECHNICAL ANALYSISCrude oil price remain locked in a narrow range. A daily close above its topside boundary at 53.86 exposes the 55.21-65 area (January 3 high, 38.2% Fibonacci expansion). Alternatively, a push below rising trend line support, now at 51.95, targets the 38.2% Fib retracementat 50.25.

Gold Prices Retreat as Fed Rate Hike Bets Retake the Spotlight

Chart created using TradingView

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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.

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.