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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
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
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Why do you require consistency in trading and why does it matter? Find out: https://t.co/f4y1FOOZnM #tradingstyle https://t.co/x5HgYopWc5
  • The USD may rise if the FOMC re-affirms its data-dependent approach and cools 2020 rate cut bets. US retail sales and CPI data may also give the Fed impetus to hold rates. Get your $USD market update from @ZabelinDimitri here: https://t.co/XnDITaDOox https://t.co/A480uVMqF2
  • What tools does the ECB have left to stimulate the Eurozone? Where is the #Euro heading? Find out from Chief Eurozone Economist at Pantheon Macroeconomics Claus Vistesen only on Trading Global Markets Decoded #podcast hosted by @MartinSEssex here:https://t.co/Twr44cZ1GB https://t.co/DXlDH5Cp9e
  • The price of oil extends the advance from the October low as #OPEC and its allies pledge to take additional steps to balance the energy market. Get your crude #oil market update from @DavidJSong here: https://t.co/llGq8yPFH4 #OOTT https://t.co/1OCVOIrK98
  • Gold closed lower after paring early-week gains post-NFP on Friday. But will price finally break support? These are levels that matter on the XAU/USD weekly chart. Get your gold technical analysis from @MBForex here: https://t.co/ovGheRg4MQ https://t.co/ZEQSYktj0w
  • What is your #tradingstyle? Take the quiz and let us know: https://t.co/LPBOcS0Vtd https://t.co/l6FvtcADEH
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia from @DavidCottleFX here: https://t.co/E2hqoRdO7q https://t.co/dnrAMFK4U2
  • Geopolitical developments send #oil prices soaring or falling. Get your market update from @MartinSEssex here:https://t.co/XVXLyG8vjq #OOTT https://t.co/RMk5Eb5fLU
  • Negative yielding government bonds – What are they telling us? Find out from @nickcawley1 here: https://t.co/F6JuhmrvPT https://t.co/KdpSjQSJ8F
  • #Euro area stocks may be preparing to break the four-month uptrend built around hopes for a US-China trade deal and an orderly #Brexit outcome. Get your market update from @IlyaSpivak here: https://t.co/ujlCJiXLvh https://t.co/INdFtsrTTF
Gold Prices May Edge Up on Soft US Inflation Data

Gold Prices May Edge Up on Soft US Inflation Data

2017-04-14 03:13:00
Ilya Spivak, Sr. Currency Strategist
Share:

Talking Points:

  • Commodities digest as Good Friday holiday drains liquidity
  • Gold prices may edge higher if US CPI falls short of forecasts
  • Crude oil prices stuck as futures markets shutter for the week

Commodities marked time as trading activity fizzled ahead of closures for the Good Friday holiday across most major financial markets. Crude oil prices will see their next moves next week when futures exchanges reopen. Gold prices may see a bit of activity however as US CPI data crosses the wires.

The core on-year inflation rate is expected to tick up to 2.3 percent, a print broadly in line with the trend average (2.2 percent). US economic news-flow has deteriorated relative to forecasts over the past month, opening the door for a downside surprise that may weigh on Fed rate hike bets and boost the yellow metal.

Retail traders are long gold. Find out here what this hints about the price trend!

GOLD TECHNICAL ANALYSISGold prices paused to consolidate after hitting the highest level in five months. From here, a daily close above the 1302.90-08.00 area (76.4% Fibonacci expansion, former support) sees the next upside barrier at 1336.19, the 100% level. Alternatively, a reversal back under the 61.8% Fib at 1282.31 paves the way for a retest of the 1263.87-65.66 region (50% expansion, February 27 high).

Gold Prices May Edge Up on Soft US Inflation Data

Chart created using TradingView

CRUDE OIL TECHNICAL ANALYSISCrude oil prices are digesting losses after snapping a four-day winning streak. Near-term support is at 52.04, the 38.2% Fibonacci expansion, with a daily close below that exposing the 23.6% level at 50.14. Alternatively, a sustained push above the 50% Fibat 53.57 opens the door for a test of the 55.10-21 area (January 3 high, 61.8% expansion).

Gold Prices May Edge Up on Soft US Inflation Data

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.