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
Bullish
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
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
Bullish
Gold
Mixed
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • The anti-risk Japanese #Yen may rise versus currencies like the $AUD and $NZD on US-China tensions and fiscal stimulus woes which sank the Nasdaq 100 at the end of last week. Get your #currencies update from @ddubrovskyFX here: https://t.co/Kw0fYCHEcw https://t.co/jiQBPpzat3
  • The #Dollar is down than 3% year-to-date with the index responding to trend support at multi-year lows. Here are the levels that matter on the $DXY weekly technical chart. Get your #currencies update from @MBForex here: https://t.co/MVnF5VDoeN https://t.co/TP2k8u9sXN
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/ioGWvplvt7
  • Based on how US-China tensions and fiscal talks ended this past week, is the Japanese #Yen readying to push higher ahead? Check out the latest #JPY fundamental outlook here - https://www.dailyfx.com/forex/fundamental/forecast/weekly/jpy/2020/08/10/Yen-May-Rise-as-Nasdaq-100-Falls-on-US-China-Tensions-Fiscal-Woes.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/2Km23bVAy2
  • Tech leading the S&P 500 towards record highs, however, China risks rise. FTSE 100 hovers in a lower range. Get your #equities update from @JMcQueenFX here: https://t.co/IJAABNhxjs https://t.co/ZZ6njsuf5O
  • We are heading into the peak of summer yet there are some unexpected trends in key plays. Will complacency or fundamental instability win out? My weekend video: '#Dollar, S&P 500, #Gold - The Potential for Trend, Reversal or Congestion' https://www.dailyfx.com/forex/video/daily_news_report/2020/08/08/Dollar-SP-500-Gold---The-Potential-for-Trend-Reversal-or-Congestion-.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/7KoypvTwcL
  • What are some trading mistakes @nickcawley1 made during his career and what did he learn from them? Find out: https://t.co/40C8Sg5fM6
  • 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:https://t.co/sR7HqpK8BI https://t.co/GZXAbZxL38
  • The Australian Dollar could be on the verge of a major breakout against the US #Dollar as $AUDUSD rates eye a close above pivotal chart resistance. Get your #currencies update from @DanielGMoss here: https://t.co/1y4serFW7h https://t.co/OtqppN7fcp
  • Multiple time frame analysis follows a top down approach when trading and allows traders to gauge the longer-term trend while spotting ideal entries on a smaller time frame chart. Learn how to incorporate multiple time frame analysis here: https://t.co/HnzQcAXWLU https://t.co/A517hC0JAG
Gold Prices Up, Crude Oil Down with Stocks AFter Fed Meeting

Gold Prices Up, Crude Oil Down with Stocks AFter Fed Meeting

2020-06-11 06:00:00
Ilya Spivak, Head Strategist, APAC
Share:

GOLD & CRUDE OIL TALKING POINTS:

  • Gold prices up as the Fed recommits to ultra-loose policy stance
  • Crude oil prices down alongside stocks as risk appetite unravels
  • S&P 500 futures signal risk-off pivot might find follow-through

Gold prices rose as the Federal Reserve painted a bleak picture of economic conditions, promising to keep monetary policy ultra-accommodative for the foreseeable future. That helped bolster the appeal of anti-fiat alternatives epitomized by the yellow metal.

Interestingly, the US Dollar is trading higher against this backdrop. That may have little to do with the currency’s yield appeal and more with the markets’ disappointment in the Fed’s slow-moving approach. Dithering on steps to expand support cooled risk appetite, speaking to USD’s safe-haven appeal.

The risk-off tilt was on full display for cyclically-sensitive crude oil prices, which tracked stocks downward in the aftermath of the Fed rate decision. Bellwether S&P 500 futures now point sharply lower, signaling more of the same is likely ahead.

Gold Forecast
Gold Forecast
Recommended by Ilya Spivak
Get Your Free Gold Forecast
Get My Guide

GOLD TECHNICAL ANALYSIS

Gold prices are edging toward the top of the choppy range encasing price action since mid-April. Its top is marked at 1765.30, the May 18 high, with a close above that likely needed to revive upward momentum. Alternatively, a drop below support in the 1679.81-93.92 area may tag the 38.2% Fibonacci retracement at 1645.40 next.

Gold price chart - daily

Gold price chart created using TradingView

CRUDE OIL TECHNICAL ANALYSIS

Crude oil prices may be topping below resistance in the 42.40-43.88 area as negative RSI divergence bolsters the formation of a bearish Dark Cloud Cover candlestick pattern. Breaking support at below 34.78 seems to initially expose the 27.40-29.11 inflection zone. Alternatively, a move past resistance may bring on a challenge of the $50/bbl figure.

Crude oil price chart - daily

Crude oil price chart created using TradingView

Oil Forecast
Oil Forecast
Recommended by Ilya Spivak
Get Your Free Oil Forecast
Get My Guide

COMMODITY TRADING RESOURCES

--- Written by Ilya Spivak, Head APAC Strategist for DailyFX

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.