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
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
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • The Australian Dollar still remains vulnerable as it extends losses against its major counterparts. What is the road ahead for AUD/USD, AUD/JPY, AUD/NZD and AUD/CAD? Get your AUD technical forecast from @ddubrovskyFX here:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here:
  • Take a closer look visually at the most influential global importers and exporters here:
  • EUR/USD tumbled last week on the day of the ECB’s latest policy announcement, and that weakness is set to continue this week as a flood of major Eurozone economic statistics is released. Get your weekly Euro forecast from @MartinSEssex here:
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • Gold price action is primed for volatility next week with the Fed decision on deck. How real yields and the US Dollar react to fresh guidance from Fed officials will be key for gold outlook. Get your weekly gold forecast from @RichDvorakFX here:
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here:
Gold NFP Rally Likely to be Short Lived- $1327 Key Resistance

Gold NFP Rally Likely to be Short Lived- $1327 Key Resistance

Michael Boutros, Strategist
Gold-NFP-Rally-Likely-to-be-Short-Lived--1327-Key-Resistance_body_Gold.png, Gold NFP Rally Likely to be Short Lived- $1327 Key Resistance

Fundamental Forecast for Gold:Neutral

Gold prices are firmer on the week with the precious metal rallying 0.5% to trade at $1302 ahead of the New York close on Friday. The move snaps a two week losing streak that saw prices plummet more than 8.2% off the highs and although the rebound may yet have further upside, the magnitude to the rally is likely to remain limited.

The March non-farm payrolls report took center stage on Friday with the data coming in slightly below expectation at 192K with the headline unemployment rate holding steady at 6.7%. Expectations for a strong employment read had been building all week with some estimates calling for a print as high as 270K after a strong upward revision to the February ADP report. The result saw the US dollar give back a portion of the week’s rally with gold breaking out of a tight weekly range on the release.

Despite the miss on NFPs and the headline unemployment rate (which was expected to fall to 6.6%) a sizeable bounce in the labor force saw the participation rate climb to 63.2% from 63.0%, its highest level since July of last year. Similarly upward revisions to the February print also painted an improving picture for the labor markets, albeit slightly weaker than consensus estimates. Still risk assets took no solace with US equity indices selling off sharply into the close of the week.

Looking ahead, traders will be closely eyeing the release of the FOMC minutes form the March policy meeting on Wednesday. With the latest quarterly projections showing a growing number of Fed officials showing a greater willingness to raise interest rates in 2015, investors will be looking for further details on the timing and methods by which the central bank may look to begin the normalizing policy. Gold is unlikely to see significant upside on the back of this week’s reversal as the fundamentals remain broadly unsupportive for the bulls. The two largest risks to our outlook remains if A- the recent sell-off in equities materializes into a larger correction or B- unforeseen geopolitical threats re-emerge.

From a technical standpoint, the broader focus on gold remains weighted to the downside after breaking below key technical barriers last month. Interim resistance is eyed at $1310 with only a breach above the March opening range low at $1327 invalidating our medium-term bias. Key support rests at $1268/70 with a break below the 61.8% retracement of the late December advance at 1260 putting longer-term targets at 1224/26 in view.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.