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. See our updated Privacy Policy here.



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
Wall Street
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
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • The Federal Reserve rate decision is likely to sway the near-term outlook for the price of gold as the central bank appears to be on track to scale back monetary support. Get your weekly gold forecast from @DavidJSong here:
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • RT @FxWestwater: Japanese Yen Forecast: JPY Crosses Eye BoJ, CPI as Haven Flows Bolster Yen Strength Link: https:/…
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • Stocks appear to be in a corrective phase but could get put to the test; levels and lines to watch in the days ahead. Get your weekly equities forecast from @PaulRobinsonFX here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
Crude Oil Price Recovery May Be Running Out of Steam

Crude Oil Price Recovery May Be Running Out of Steam

Ilya Spivak, Head Strategist, APAC


  • Crude oil price chart still warning of ebbing upside momentum
  • EIA inventory flow data on tap, baseline envisions modest build
  • Gold prices may struggle for direction before FOMC rate call

Crude oil prices rose Monday, with the cycle-sensitive commodity tracking broadly in line with a pickup in risk appetite. The bellwether S&P 500 stock index rose for a second day, closing at a five-month high. It probably didn’t hurt that OPEC+ officials recommitted themselves to a coordinated output cut scheme, even though the decision to extend it past mid-year looks to have been delayed until June.

Gold prices were little-changed, edging narrowly higher but ultimately failing to make headway past familiar near-term ranges. The standstill probably echoes similar torpor in Treasury bond yields and the US Dollar as the markets wait for Wednesday’s FOMC rate decision before committing to a directional bias on assets driven by the outlook for monetary policy.


Looking ahead, oil is eyeing weekly API inventory flow data. It will be judged against bets on a modest 632k inflow expected to be reported in official EIA statistics later in the week. Gold might see a bit of near-term volatility as US durable goods and factory orders figures are released but lasting follow-through is probably unlikely until Fed Chair Powell and company have had their say.

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


Gold prices might be carving out a choppy Head and Shoulders top below $1350/oz. A daily close below neckline support – now at 1282.11 – would act as confirmation, initially exposing the 1260.80-63.76 area but broadly implying a larger decline toward 1220. Alternatively, a daily close above resistance in the 1303.70-10.95 region opens the door for a move to revisit the February swing top at 1346.75.

Gold price chart - daily


Crude oil prices fell just shy of breaking resistance in the 57.96-59.05 area. Meanwhile, negative RSI divergence continues to warn of a bearish reversal in the works. A daily close below support in the 54.55-55.66 area sets the stage for a test of the 50.15-51.33 zone. Alternatively, a confirmed break higher paves the way for a retest of trend line support-turned-resistance a trend line set from February 2016, now at 62.63.

Crude oil price chart - daily


--- Written by Ilya Spivak, Currency Strategist for

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.