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.



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
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
Wall Street
More View more
Real Time News
  • These companies are all set to report earnings next week. Which of the reports has the most market-moving potential?
  • The Dow and S&P500 edge slightly back into the green in afternoon trading, joining the Nasdaq. The Russell 2000 remains in the red. DOW +0.03% NDX +0.49% SPX +0.07% RUT -0.81% $DOW $QQQ $SPY $IWM
  • $EURUSD is up slightly today after no changes in the ECB's policy stance, rising from around 1.2120 to currently trade around 1.2150. The pair remains notably off the 1.2300 levels hit earlier this month. $EUR $USD
  • Risk trends have definitely throttled back today suggest, which further suggests yesterday was a relief rally. But there remains a notable pace advantage of the tech-based Nasdaq to broader $SPX. Still the core of speculative appetite chasing momentum
  • ECB is said to be seeking new gauges to help with stimulus decisions - BBG. #ECB $EUR
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 71.02%. See the summary chart below and full details and charts on DailyFX:
  • The price of gold turned sharply higher Wednesday, aided by a weaker US dollar, and the precious metal is now running into a cluster of resistance which may prove tricky to overcome in the short-term. Get your $XAUUSD market update from @nickcawley1 here:
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Silver: -0.38% Gold: -0.46% Oil - US Crude: -0.66% View the performance of all markets via
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.42% 🇨🇭CHF: 0.31% 🇪🇺EUR: 0.28% 🇦🇺AUD: -0.01% 🇯🇵JPY: -0.06% 🇨🇦CAD: -0.10% View the performance of all markets via
  • #Silver is now trading around $25.70 after testing around $26.00 earlier today, its highest levels since early last week. $XAG $SLV
Gold Prices May Ignore ISM Survey, Fed-Speak as Jobs Data Nears

Gold Prices May Ignore ISM Survey, Fed-Speak as Jobs Data Nears

Ilya Spivak, Head Strategist, APAC

Talking Points:

  • Gold prices mark time as markets look ahead to US employment data
  • Crude oil prices edge up as EIA reports another inventory drawdown
  • Are commodities matching DailyFX bets so far in Q3? Find out here

Gold prices stalled as familiar rhetoric from Fed officials and mixed signals in July’s ADP private-sector employment data left rate hike speculation rudderless. A disappointing headline print was counterbalanced by an upgrade of June’s result, producing a net improvement of 21k relative to baseline forecasts.

From here, the service-sectorISM survey as well as factory and durable goods orders numbers are on tap. Upbeat results echoing broad improvement in US news-flow since mid-June may weigh against the yellow metal but lasting follow-through might have to wait for Friday’s high-profile payrolls report.

On the Fed-speak front, St. Louis and Minneapolis branch presidents James Bullard and Neel Kashkari are due to speak. While their remarks will inform traders’ overall sense of the FOMC’s thinking, it seems unlikely that a comment potent enough to produce immediate fireworks will emerge.

Crude oil prices rose as EIA inventory data showed stockpiles shed 1.53 million barrels last week. While this was smaller than the 3.1 million draw expected, traders appeared to be relieved after API predicted a surprise build yesterday. A lull in top-tier event risk might make for consolidation in the near term.

Need help translating commodity market news into a strategy? Check out our trading guide!

GOLD TECHNICAL ANALYSISGold prices remain at a standstill below the 38.2% Fibonacci expansionat 1271.20. Breaking above this barrier on a daily closing basis exposes the 1291.65-95.46 area (50% level, double top). Alternatively, a reversal below inflection point support at 1260.85 opens the door for a retest of the 23.6% Fib at 1245.91.

Gold Prices May Ignore ISM Survey, Fed-Speak as Jobs Data Nears

Chart created using TradingView

CRUDE OIL TECHNICAL ANALYSISCrude oil prices managed a bounce from support at 48.65, the 50%Fibonacci retracement. From here, a daily close above the 61.8%levelat 50.19 exposes the 76.4% Fib at 52.11. Alternatively, a turn below support paves the way for another challenge of the 47.10-29 area (38.2% retracement, July 4 high).

Gold Prices May Ignore ISM Survey, Fed-Speak as Jobs Data Nears

Chart created using TradingView

--- 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.