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
Oil - US Crude
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
  • Bitcoin and Litecoin are moving higher after Tesla CEO Elon Musk's Twitter dealings injected volatility into the crypto market. Get your #cryptocurrency market update from @FxWestwater here:
  • 9 out of 11 S&P 500 sectors ended lower, with 79.2% of the index’s constituents closing in the red. Energy (-2.63%), industrials (-1.47%) and financials (-1.34%) were among the worst performers, whereas real estate (+0.17%) outperformed.
  • Gold Price Forecast: XAU/USD Bid on Weak Dollar, Softer Yields -via @DailyFX Link to Full Analysis: $XAUUSD $GLD $GC_F
  • The US Dollar is losing ground against a few ASEAN counterparts. USD/SGD, USD/IDR and USD/PHP seem to be maintaining a downside bias. USD/THB may rise. Get your market update from @ddubrovskyFX here:
  • Treasury Sec. Yellen: - Investments and tax proposals in "Jobs Plan" will enhance net profitability of corporations, improve global competitiveness - These are investments to make the economy more competitive and sustainable
  • Treasury Sec. Yellen: - Corporate sector must bear its fair share, plan to return corporate tax toward the historical norm - We will target incentives for companies to move funds, operations overseas
  • Treasury Sec. Yellen: - We must improve public R&D to maintain America's technological edge - We must build support systems to improve quality of life and opportunities for those most impacted by wealth inequality
  • Treasury Sec. Yellen: - We must reorient the framing of US fiscal policy - Poor US fiscal policy has meant infrastructure wasn't maintained or modernized
  • Treasury Sec. Yellen: - Innovation required from public & private sector to improve the economy - We must invest in public infrastructure and institutions that drive productivity
  • Treasury Sec. Yellen: - Wage gains and profits have benefitted the top families in America - Middle class families have faced wage stagnation
Crude Oil Prices May See Clashing Cues in Eurozone PMI, EIA Data

Crude Oil Prices May See Clashing Cues in Eurozone PMI, EIA Data

Ilya Spivak, Head Strategist, APAC


  • Crude oil prices edge up as risk appetite firms in Wall St. trade
  • Eurozone PMI, EIA inventories data may offer divergence cues
  • Gold prices vulnerable as US Dollar attracts liquidity demand

Crude oil prices rose with stocks in risk-on Wall Street trade. Markets cheered after the US Congress reached a debt ceiling deal with the White House, reducing uncertainty and unlocking some capacity for fiscal policy support. Meanwhile, hopes for easing US-China trade war tensions emerged as a meeting between President Trump and key tech executives hinted that lowering sales restrictions on Huawei may be on the table.

The chipper move translated into higher bond yields. The US Dollar had been trending higher since the prior day, and an upshift in rates-based support certainly didn’t hurt. Taken together, that understandably eroded support for non-interest-bearing and anti-fiat assets to the detriment of gold prices.

Crude Oil Prices May See Clashing Cues in Eurozone PMI, EIA Data

Looking ahead, a downbeat set of Eurozone PMI figures might pull the spotlight back to the broader slowdown in global growth, souring sentiment and nudging oil back downward. Losses might be capped if EIA inventory data – where a 4.4-million-barrel drawdown is expected – registers closer to yesterday’s API projection calling for a mammoth 10.96-million-barrel drop.

As for gold, a risk-off shift in the markets’ mood might see lower bond yields competing for influence with a US Dollar buoyed by liquidity demand. If scope for pricing in further Fed easing is as exhausted as it seems, the Greenback might prevail and pressure the yellow metal downward.

Get the latest crude oil and gold forecasts to see what will drive prices in the third quarter!


Gold prices are probing lower after putting in a Bearish Engulfing candlestick pattern. Negative RSI divergence bolsters the case for a downside scenario. A daily close below trend line support at 1406.62 exposes the July 1 low at 1381.91. Alternatively, an upturn through resistance marked by the 38.2% Fibonacci expansion at 1447.89 targets the 50% level at 1468.27.

Gold price chart - daily


Crude oil prices are digesting losses above support at 54.84, with a modest bounce retracing a bit of recently lost ground. Immediate resistance is capped at 58.19, with a break above that opening the door to retest the 60.04-84 area. Renewed selling pressure that pierces support probably targets the 49.41-50.60 zone 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.