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
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
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
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
Gold
Bearish
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Real Time News
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.17% 🇨🇭CHF: 0.09% 🇪🇺EUR: -0.02% 🇬🇧GBP: -0.25% 🇦🇺AUD: -0.32% 🇳🇿NZD: -0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/la6Ae67t8c
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.23% US 500: -0.27% France 40: -0.29% Germany 30: -0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/jJoCuqFBZ3
  • Geopolitical developments send #oil prices soaring or falling. Get your market update from @MartinSEssex here:https://t.co/XVXLyG8vjq #OOTT https://t.co/Kv2LHTbEYP
  • US Dollar Technical Outlook: USD/INR, USD/SGD, USD/MYR, USD/IDR $USDINR $USDSGD #ASEAN - https://www.dailyfx.com/forex/technical/article/special_report/2019/10/16/US-Dollar-Technical-Outlook-USDINR-USDSGD-USDMYR-USDIDR.html?CHID=9&QPID=917702 https://t.co/kMf5jZVvrx
  • Overnight index swaps are now pricing in a 100% chance of an #RBNZ rate cut in November, after briefly softening following better-than-expected New Zealand CPI data earlier today #RBNZ $NZDUSD
  • The Swedish #Krona and Norwegian #Krone will be in for a tense week ahead of #Brexit-related drama and a crucial EU summit which could be a turning point for the EU-UK divorce. Get your market update from @ZabelinDimitri :https://t.co/zjTNQmDHTt https://t.co/zhR7J38A4M
  • RT @cherykang: Carrie Lam just started her policy address. Lawmakers chanting "five demands, not one less." Now, policy address temporaril…
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.27% Silver: 0.14% Gold: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/TlvwJsIj0c
  • The $NZD may be carving out a near-term bottom against its US counterpart but scope for gains seems limited within a broader downtrend. Get your technical analysis from @IlyaSpivak here: https://t.co/7bsVuSyWMn https://t.co/5xMCDueTc7
  • Bank of Korea Governor Lee: Two members called for a rate hold, today's decision was not unanimous -BBG #BoK $USDKRW
Gold Prices Rise Even as US Government Shutdown Ends

Gold Prices Rise Even as US Government Shutdown Ends

2018-01-23 09:00:00
Ilya Spivak, Sr. Currency Strategist
Share:

Talking Points:

Gold prices rose as lawmakers reached a deal ending the US government shutdown. The stopgap measure will allow for full operations to resume through February 8. The disruption amounted to just one working day, which is probably not enough to meaningfully derail US or global growth momentum. That breathed new life into the “reach for yield” narrative and hurt the US Dollar, boosting the yellow metal by extension.

Crude oil prices saw a burst of seesaw volatility that ultimately took the WTI benchmark higher on news that Philadelphia Energy Solutions LLC, responsible for over a quarter of refining capacity on the east coast of the US, has filed for bankruptcy. The spotlight now turns to weekly API inventory flow statistics, which will be judged against bets on a 1.02 million barrel drop to be reported in official data Wednesday.

Check out our guide to learn what are the long-term forces driving crude oil prices!

GOLD TECHNICAL ANALYSISGold prices are attempting a cautious recovery but a move beyond recent ranges remains elusive. A break above the 38.2% Fibonacci expansion at 1342.49 exposes 1353.03 (trend line, 50% level). Alternatively, a turn below resistance-turned-support at 1325.96 (January 4 high) opens the door for a test of the 1303.32-08.38 area (38.2% Fib retracement, January 10 low).

Gold Prices Rise Even as US Government Shutdown Ends

Chart created using TradingView

CRUDE OIL TECHNICAL ANALYSISCrude oil prices are struggling to make good on a bearish Evening Star candlestick pattern, treading water above the 23.6% Fibonacci retracement at 62.80. A daily close below this barrier initially exposes the 38.2% level at 61.52. The first layer of key resistance remains at 64.86, the January 15 high.

Gold Prices Rise Even as US Government Shutdown Ends

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.