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.

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
Subscribe
Please try again
EUR/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
Oil - US Crude
Bullish
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/L3LPCph2ST
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here.https://t.co/pb5E2KgRzW #DailyFXGuides https://t.co/ysxKO30ZWw
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/5nHxtlZ7nn
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/lqpXwWjVFt
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/CrpXuYgfRO
  • 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: https://t.co/ZNs4Qi8ieG https://t.co/VzEbQn8blk
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/bZEFtp8kFe https://t.co/ETF52Q2sLz
  • 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 https://t.co/c51s3IBcEu https://t.co/AXZxK8Abrh
  • Global stock markets may see turbulent volatility if darkening clouds over Washington’s relations with Beijing turn into a geopolitical storm. Which assets will be the lifeboat? Find out here:https://t.co/RkFI6qAyik https://t.co/9Ppa4d48Ql
  • The Dow Jones and S&P 500 outlook appears bleak in the near term as retail traders increase their upside exposure. At the same time, these indices confirmed bearish technical warning signs. Get your market update from @ddubrovskyFX here:https://t.co/fKCHELbOxo https://t.co/e0liqVDzw6
Gold Relief Rally at Risk on Sticky US Inflation- 1145 Key Resistance

Gold Relief Rally at Risk on Sticky US Inflation- 1145 Key Resistance

Michael Boutros, Strategist
Gold Relief Rally at Risk on Sticky US Inflation- 1145 Key Resistance

Fundamental Forecast for Gold: Neutral

Gold prices are markedly higher after a seven week losing streak with the precious metal up 1.8% to trade at 1114 ahead of the New York close on Friday. The advance comes on the back of losses in the greenback with the Dow Jones U.S. Dollar Index (Ticker: USDOLLAR) breaking to fresh monthly lows as China fears dominated market headlines. Although the broader fundamental picture for gold remains unchanged, the near-term rally may yet have some breath as the

Fears of a material slowdown in China coupled with ongoing concerns surrounding the global economy raises the bar for a Fed rate hike at the September 17th interest rate decision which would mark the first shift in policy since 2004. With China widening the Yuan trading band by the most on record, the move has spurred speculation that the central bank may take a more proactive approach to address the downside risks for growth and inflation, and bets for a further expansion of the global easing cycle may keep the Fed on the sidelines as the outlook for the world economy remains clouded with high uncertainty.

At the same time, the renewed decline in energy prices may also dampen interest rate expectations as it undermines the Fed’s ability to achieve the 2% inflation target over the policy horizon, and the key data print coming out ahead of the September meeting may play an increased role in driving market volatility. The U.S. July Consumer Price Index (CPI) will be central focus next week with consensus estimates calling for an uptick in core price growth to 0.2% m/m. With the recent moves from the PBOC likely to weigh on expectations for higher rates from the Fed in the near-term, a weaker than expected gauge on inflation could further hit the greenback. In turn gold may yet have more upside before broader downtrend resumption.

From a technical standpoint, gold turned from critical support we’ve noted over the past four weeks into 1067/70 where the median-line off the 2014 high converges on basic trendline support dating back to June 2006 and the 100% extension of the decline off the yearly high. Price has now broken out of a near-term descending median-line structure extending off the May high and although the broader bias remains weighted to the downside, near-term the risk for the rebound to press higher remains with key resistance & bearish invalidation eyed at 1145/50.

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

DISCLOSURES