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
More View more
Real Time News
  • (ASEAN Fundy) US Dollar Outlook: Federal Reserve in Focus for SGD, THB, IDR, PHP Amid Covid Risks #ASEAN #USD $USDSGD $USDTHB $USDIDR $USDPHP #Covid
  • What is your forex trading style? Take the quiz and find out:
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.36% Gold: 0.21% Oil - US Crude: -0.43% View the performance of all markets via
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.17% 🇬🇧GBP: 0.07% 🇨🇭CHF: 0.04% 🇳🇿NZD: -0.06% 🇦🇺AUD: -0.12% 🇨🇦CAD: -0.13% View the performance of all markets via
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.48%, while traders in Wall Street are at opposite extremes with 78.79%. See the summary chart below and full details and charts on DailyFX:
  • 🎯 Bitcoin extending its surge through the weekend to trade back above $35K. Seeing some serious upward momentum here, but in light of Fed event risk this week, it may be prudent for short-term tactical traders to consider unwinding exposure a bit. #Bitcoin $BTC $BTCUSD
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • RT @FxWestwater: Asia AM - New Zealand Dollar Outlook: $NZDUSD Breakout Chance Shifts Into View…
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here:
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here:
Gold Prices May Break Key Support as US Dollar Reclaims Haven Bid

Gold Prices May Break Key Support as US Dollar Reclaims Haven Bid

Ilya Spivak, Head Strategist, APAC


  • Gold prices drop as USD reclaims support from haven demand
  • Crude oil prices offset risk-off pressure with US supply worries
  • Downbeat BOC rhetoric may trigger another bout of liquidation

Gold prices turned lower despite would-be support from falling bond yields as the US Dollar reclaimed its haven appeal following a lapse last week, trading broadly higher as stocks retreated. Crude oil prices idled, with pressure from the broadly risk-off environment apparently offset amid supply concerns as heavy rain and flooding forced offline several key US pipelines and refineries.

Looking ahead, a monetary policy announcement from the Bank of Canada is in focus. No changes in policy are expected but the accompanying commentary may shape global growth bets, particularly as recent data stokes worries about the spillover of global malaise into the heretofore resilient US economy. A downbeat tone may trigger another wave of risky asset liquidation.

Bellwether S&P 500 futures are pointing conspicuously lower in late Asia Pacific trade, bolstering the case for risk aversion. Cycle-sensitive crude oil looks vulnerable in this scenario, although incoming API inventory flow data may muddy the waters somewhat. A modest 633k-barrel drawdown is expected. Gold will continue to weigh divergent cues from bonds and USD in the meanwhile.

Did we get it right with our crude oil and gold forecasts? Get them here to find out!


Gold prices remain wedged between resistance set from late February (1295.10) and a rising trend line guiding the move higher since mid-August 2018 (1273.21). A break higher exposes the 1303.70-09.12 area, whereas a breach of support targets the 1260.80-63.76 zone.

Gold price chart - daily


Crude oil prices remain pinned to support in the 57.24-88 area. A daily close below it opens the door for a test of the 55.37-75 zone. Alternatively, a push above support-turned-resistance in the 60.39-95 region sets the stage for a challenge of the 63.59-64.43 price band.

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.