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.

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
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
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
GBP/USD
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
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 prices were crushed this week as yields continued to climb. But with a big spot of support coming in, can buyers bring a bounce ahead of NFP? Get your market update from @JStanleyFX here: https://t.co/E1TTXVJGUm https://t.co/pD4TeAY3ZP
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/PiLYJDVvtY
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/453MLny2lu
  • The haven-linked US Dollar may be in a position to benefit in the short-run as economic recovery bets support longer-dated Treasury yields, making them more competitive with stocks. Get your market update from @ddubrovskyFX here: https://t.co/BickxlcuZi https://t.co/OdARp4Z1mh
  • The Dow Jones and Nasdaq 100 look to be on diverging technical paths as volatility spikes. Meanwhile, the S&P 500 teeters on support as it splits the difference between its sister indices. Get your market update from @PeterHanksFX here: https://t.co/0gULgIN2kw https://t.co/dzuxyjkXmx
  • What's the difference between leading and lagging indicators? Find out from here: https://t.co/vGx8HCagF5 https://t.co/yTYG7ote3R
  • The reflation trade is helping to push the oil-linked Canadian Dollar higher as the post-Covid economic outlook clears. The Loonie is reliant on the global economy’s recovery. Get your market update from @FxWestwater here: https://t.co/CYUiH0PCca https://t.co/my6clW7pxY
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here: https://t.co/Ye4m1FMKUW https://t.co/q8Ds7wYrKA
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/qtAmyhFU9A
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/H19vRDCpUJ https://t.co/S74APOiQ3y
Crude Oil Prices May Turn Lower as Market Mood Darkens

Crude Oil Prices May Turn Lower as Market Mood Darkens

Ilya Spivak, Head Strategist, APAC

GOLD & CRUDE OIL TALKING POINTS:

  • Crude oil prices still range-bound despite supportive news-flow
  • Gold prices static as Treasury bond yields, US Dollar diverge
  • Oil may fall as gold struggles for direction amid risk aversion

Crude oil prices edged higher amid Venezuela-linked supply concerns as well as news that Saudi Arabia may target the US with sharp export cuts in an attempt to drain North American inventories. Prices were nevertheless confined to the narrow range prevailing over the past three weeks. Gold prices marked time, echoing standstill in Treasury bond yields and the US Dollar.

CRUDE OIL MAY FALL AS GOLD OSCILLATES IN RISK-OFF TRADE

Looking ahead, a lull in top-tier event risk may put sentiment trends at the forefront. That bodes ill for cycle-sensitive crude oil prices as bellwether S&P 500 futures point sharply lower, hinting at a risk-off disposition in the final hours of the trading week. As for gold, it may continue to struggle for direction as Treasury bond yields and the US Dollar diverge.

See our guide to learn about the long-term forces driving crude oil prices!

GOLD TECHNICAL ANALYSIS

Gold prices remain glued to resistance-turned-support in the 1235.24-41.64 area. A move higher form here sees the first upside barrier in the 1260.80-66.44 zone, followed by a rising trend line at 1273.81. Alternatively, a reversal back below 1235.24 targets a rising trend line at 1209.88.

Gold price chart - daily

CRUDE OIL TECHNICAL ANALYSIS

Crude oil prices are still stuck in a range below resistance at 53.33 (former support, falling trend line) and support at 49.16, the October 9, 2017 low. A breakdown targets the August 31, 2017 bottom at 45.62. Alternatively, a daily close above the range top exposes support-turned-resistance at 55.24.

Crude oil price chart - daily

COMMODITY TRADING RESOURCES

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

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES