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
Bullish
Wall Street
Bearish
Gold
Mixed
GBP/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
USD/JPY
Bearish
More View more
Real Time News
  • US 6-Month Bills Draw 0.105% Primary Dealers Awarded: 52.4% Indirect Bidders Accepted: 44.1% Direct Bidders Accepted: 3.5% B/C Ratio: 2.91
  • To fully appreciate the weight of the 1.1700-1750 area as a technical zone for $EURUSD, it is best to look at the monthly chart. We just closed out the largest month's rally since September 2010 https://t.co/xqiTqchxlJ
  • $EURUSD is treating former resistance as new support following its retreat from 1.19 Friday. Below is a disparity index that shows the difference between spot and the 20-day SMA https://t.co/eEUsjgGJgd
  • US Treasury Yields: 2-Year: 0.113% 3-Year: 0.122% 5-Year: 0.222% 7-Year: 0.405% 10-Year: 0.558% 30-Year: 1.234% $TNX
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: -0.08% 🇯🇵JPY: -0.35% 🇪🇺EUR: -0.40% 🇦🇺AUD: -0.69% 🇳🇿NZD: -0.74% 🇨🇭CHF: -1.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/g48aHJoSf8
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 2.55% France 40: 1.77% FTSE 100: 1.77% Wall Street: 0.61% US 500: 0.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/K4DUoqfBBy
  • $AAPL post-earnings looks parabolic even on a log chart that split is going to juggle up the composition of the $DJIA though. Only 30 stocks and this has been like 11% of the index. Big driver about to have a smaller impact on the $Dow post-split https://t.co/7xhnvbjKLA https://t.co/cgUn1ybQ6U
  • Ripple (XRP) - This could get interesting if we close above Sunday's spike high ($0.325)...#xrp #Crypto @DailyFXTeam https://t.co/2rrL5efGBa
  • Among the FAANG members, only $AAPL seems to be carrying over the momentum from last week's earnings wave. Here is my version of the high market cap tech index overlaid on the stock https://t.co/Z6KnMefH1c
  • 🇲🇽 Markit Manufacturing PMI (JUL) Actual: 40.40 Previous: 38.60 https://www.dailyfx.com/economic-calendar#2020-08-03
Crude Oil Prices Eye May Low, Gold Down After Comey Testimony

Crude Oil Prices Eye May Low, Gold Down After Comey Testimony

2017-06-09 08:28:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

Crude oil prices marked time, digesting losses after suffering the largest daily drop in two weeks in the wake of shockingly disappointing EIA inventory data. Looking ahead, Baker Hughes rig count figures may show US production capacity continued to build, which may stoke supply glut concerns and compound selling pressure. The figures are rarely a big market-mover however and may yield to consolidation or even a corrective recovery into the week-end.

Gold prices fell as James Comey testified in Congress. While certainly critical of President Trump and members of his entourage, the former FBI director did not deliver a bombshell that amounted to a direct and unambiguous existential threat to the administration. This seemed to cool immediate political instability fears and pushed Treasury bond yields higher, undermining the appeal of non-interest-bearing assets. S&P 500 futures are pointing higher ahead of the opening bell on Wall Street, hinting at more of the same ahead.

Need help turning your ideas about commodities into a strategy? Check out our trading guide.

GOLD TECHNICAL ANALYSISGold prices are heading lower after putting in a bearish Three Inside Down candlestick pattern, hinting a double top below the $1300/oz figure may be taking shape. A daily close below rising trend line support – now at 1272.62 – exposes a chart inflection point at 1260.85. Alternatively, a push above the April 17 high at 1295.46 targets support-turned-resistance at 1308.00.

Crude Oil Prices Eye May Low, Gold Down After Comey Testimony

Chart created using TradingView

CRUDE OIL TECHNICAL ANALYSISCrude oil prices continue to edge lower to support in the 43.79-44.37 area (May 5 low, 76.4% Fibonacci expansion). A break below that on a daily closing basis exposes the 100% level at 42.02. Alternatively, a rebound above the 61.8 % Fib at 45.82 targets the 47.00-12 zone (support-turned-resistance, 50% expansion).

Crude Oil Prices Eye May Low, Gold Down After Comey Testimony

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.