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
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
  • Senator Manchin has reportedly agreed to a $1.75trillion spending plan, following meeting with Biden - CNN
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.22% 🇨🇦CAD: 0.06% 🇬🇧GBP: -0.01% 🇪🇺EUR: -0.19% 🇳🇿NZD: -0.21% 🇨🇭CHF: -0.35% View the performance of all markets via
  • BoJ and PBoC extend currency swap arrangement - BoJ
  • Bundesbank says inflation to continue rising for the time being before gradually declining next year Full-year growth likely to be significantly below its June forecast for 3.7%
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.32% Germany 30: 0.16% US 500: 0.08% Wall Street: -0.00% France 40: -0.19% View the performance of all markets via
  • Futures have their own set of characteristics and appeal to different types of traders and investors for a variety of reasons. Get your free trading guide and learn to trade the markets with futures here. Download your guide today!
  • Bank of Spain Governor De Cos says recent developments anticipate a significant downward economic outlook revision for 2021
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
  • 🇩🇪 Ifo Business Climate (OCT) Actual: 97.7 Expected: 97.9 Previous: 98.8
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.03%, while traders in AUD/JPY are at opposite extremes with 79.26%. See the summary chart below and full details and charts on DailyFX:
Gold Prices at Key Technical Barrier, Crude Oil Prices Vulnerable

Gold Prices at Key Technical Barrier, Crude Oil Prices Vulnerable

Ilya Spivak, Head Strategist, APAC


  • Gold prices testing potentially trend-defining chart resistance
  • Crude oil prices continue to stall below the $65/barrel figure
  • Event risk lull may bring risk-off dynamics, IEA report on tap

Gold prices rose after a grim ECB monetary policy announcement spooked markets and drove yields downward, boosting the appeal of non-interest-bearing assets. The US Dollar initially popped higher as downbeat comments from President Mario Draghi crossed the wires – anchoring the yellow metal – but a swift subsequent reversal removed this hurdle.

US CPI data showing core inflation unexpectedly fell in March coupled with early reports of a draft deal to delay Brexit at an emergency EU leaders’ summit may have set the stage for the Greenback’s reversal. Data reinforcing a dovish stance from the US central bank coupled with avoiding a disorderly EU/UK divorce – at least for now – sent the bellwether S&P 500 upward, punishing the anti-risk currency.

Crude oil prices mostly reflected sentiment trends, rising alongside shares in the latter half of the day. EIA inventory flow data revealing a larger-than-expected 7.03-million-barrel rise in crude stockpiles last week was mostly overlooked. Later in the day, minutes from the March FOMC meeting seemingly registered less dovish than markets accounted for, setting a session low for USD and high for commodities.


From here, a lull in top-tier event risk might make for a period of consolidation. Alternatively, the absence of immediate distractions – at least of the scheduled variety – may allow investors to refocus on the increasingly worrying macro backdrop. Crude oil prices may fall if this pushes sentiment into risk-off territory. A monthly IEA oil market report may flag ebbing demand and swelling supply, compounding pressure.

See the latest gold and crude oil forecasts to learn what will drive prices in the second quarter!


Gold prices are testing resistance in the 1303.70-09.12 area, a barrier marked by a chart inflection area and a falling trend line capping gains since late February. A daily close above sees the next upside barrier at 1326.30. More broadly, such move would hint at the completion of a bullish Triangle continuation pattern, setting the stage for longer-term recovery.

Alternatively, a turn lower from here that leads to a break of neckline support at 1283.53 would point to the completion of a Head and Shoulders (H&S) top. That would set the stage for a test of rising trend support established from August 2018 lows, now 1258.34. The H&S formation would imply a larger selloff to probe near the $1200/oz figure.

Gold price chart - daily


Crude oil prices continue to test support-turned-resistance in the 63.59-64.88 area. A daily close above it would bring the 66.09-67.03infection zone immediately into focus, with a subsequent breach of that opening the door for a move to challenge the $70/bbl figure. A break below rising trend support set from late December – now at 60.39 – is needed to neutralize immediate upward pressure, exposing the 57.24-88 region next.

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.