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
Bearish
Oil - US Crude
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
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.05%, while traders in US 500 are at opposite extremes with 76.97%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/bOIQPXZFko
  • Heads Up:🇲🇽 Industrial Production YoY (JUN) due at 11:00 GMT (15min) Expected: -17.8% Previous: -30.7% https://www.dailyfx.com/economic-calendar#2020-08-11
  • Heads Up:🇧🇷 BCB Copom Meeting Minutes due at 11:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-08-11
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here: https://t.co/UTWxbnNz7M https://t.co/Lj9V09Gtnu
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.56% Gold: -1.98% Silver: -3.20% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/bwxZBdzT9z
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.51% 🇦🇺AUD: 0.45% 🇨🇦CAD: 0.44% 🇳🇿NZD: 0.25% 🇬🇧GBP: 0.23% 🇯🇵JPY: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/X79P6EsMnj
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Germany 30: 2.74% France 40: 2.73% FTSE 100: 2.28% Wall Street: 0.91% US 500: 0.59% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/SvvEG07UEc
  • NZ PM says Auckland will move to level 3 restrictions for 3 days $NZD
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:https://t.co/eILWbFgHRE https://t.co/dnwQT6AhKF
  • Heads Up:🇿🇦 Unemployment Rate (Q2) due at 09:30 GMT (15min) Previous: 30.1% https://www.dailyfx.com/economic-calendar#2020-08-11
Gold Prices Eye Diverging US Dollar, Bond Yields for Direction

Gold Prices Eye Diverging US Dollar, Bond Yields for Direction

2019-03-26 04:30:00
Ilya Spivak, Head Strategist, APAC
Share:

GOLD & CRUDE OIL TALKING POINTS:

  • Gold prices to weigh diverging yields, US Dollar in risk on/off trade
  • Crude oil prices stall to digest as chart positioning warns of topping
  • French GDP, US consumer confidence may stoke slowdown worries

Gold prices rose worries about slowing global growth continued to weigh on bond yields, improving the relative appeal of non-interest-bearing assets. The US Dollar offered a bit of reinforcement, correcting lower and offering a familiar lift to anti-fiat alternatives. Crude oil prices stalled, digesting after Friday’s broad-based de-risking.

FRENCH GDP, US CONSUMER CONFIDENCE EYED AMID SLOWDOWN FEARS

Looking ahead, French GDP and US consumer confidence figures headline the data docket. If the former brings a downgrade of fourth-quarter growth estimates while the latter disappoints bets on a second month of improvement, global slowdown fears may be reinforced. Recent news-flow has tended to undershoot relative to baseline forecasts.

Lending rates may fall further if the markets’ disposition remains defensive, pressuring gold upward. Gains may be capped if the Greenback rediscovers its capacity to attract haven-seeking capital flows. It has tended to do so recently when sentiment has become particularly dour. A more straight-forwardly negative response is likely from oil in this scenario but keeping an eye on incoming API inventory data is prudent.

Learn what other traders’ gold buy/sell decisions say about the price trend!

GOLD TECHNICAL ANALYSIS

Gold prices are testing resistance at 1326.30, with a break higher confirmed on a daily closing basis opening the door to revisiting the February swing high at 1346.75. Overall positioning still hints at the outlines of a choppy Head and Shoulders top but putting this scenario back in active play needs a turn below support in the 1303.70-09.12 area. Confirmation would then require a break of the pattern’s neckline, now at 1282.44.

Gold price chart - daily

CRUDE OIL TECHNICAL ANALYSIS

Crude oil prices continue to hover above three-month rising trend support, with a bearish Evening Star candlestick pattern hinting that a top may be taking shape. The setup needs a break below the 57.24-88 area for confirmation, exposing the 55.37-75 zone next. Alternatively, a breach above the 38.2% Fibonacci expansion at 60.45sets the stage for a test the 50% level at 62.28.

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

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.