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.

Free Trading Guides
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
More View more
Real Time News
  • RT @FirstSquawk: Five rockets hit near US embassy in Iraq capital: security source
  • #DidYouKnow crude #oil is a natural resource that differs in composition depending on its location. Find out more crude oil facts from @WVenketas here: https://t.co/Ssp486xz2J #OOTT #CommoditieswithDailyFX https://t.co/NVBR5kbYgb
  • The $JPY may resume a five-year rise against the New Zealand Dollar if prices make good on a Head-and-Shoulders pattern, pushing NZD/JPY toward 70.00. Get your market update from @ddubrovskyFX here: https://t.co/DXPkAjLoLp https://t.co/nyi5fDamr8
  • RT @RaoulGMI: Thanks Fitwit! Lots of great, smart ideas of playing the downgrades of BBB. The collective hive mind is truly incredible and…
  • transmissibility is increasing — news flow hasn’t been kind over the weekend — should be an interesting globex open #CoronavirusOutbreak https://t.co/UZYoZOQZ7V
  • The #Euro may be preparing to turn lower against the Japanese Yen, resuming a two-year downtrend and setting the stage for a decent below the 111.00 figure. Get your market update from @IlyaSpivak here: https://t.co/jtjJ1H2eRi https://t.co/epncUWJTSo
  • The $JPY has faded into 2020 as market risk appetite has held up and hit demand for haven assets. USD/JPY now challenges a key medium-term downtrend, but hasn’t topped it yet. Get your market update from @DavidCottleFX here:https://t.co/4X6vgCgkB7 https://t.co/bLWABxibOo
  • My pleasure! https://t.co/R7ArKNjCNO
  • The range in USD/CAD broke with aggression this week as CAD sellers pushed the currency after the Bank of Canada rate decision. Get your $USDCAD technical analysis from @JStanleyFX here: https://t.co/8oHoLLqvtR https://t.co/8ZXx6GbKAn
  • The $USD may fall against the Swedish Krona and Norwegian Krone if commentary from officials at the Davos forum uplift market mood and pressure haven-linked currencies. Get your market update from @ZabelinDimitri here: https://t.co/CPmNJSgHXY https://t.co/RdM0cbyfSf
S&P 500 Retreats Record, Gold and Oil Accelerate, Dollar Avoids Breakdown: What’s Ahead?

S&P 500 Retreats Record, Gold and Oil Accelerate, Dollar Avoids Breakdown: What’s Ahead?


Weekly Trading Forecast Talking Points:

  • Late-in-the-week news that the US killed a top Iranian general unsettled global capital markets and bolstered havens
  • Systemic event risk like geopolitical instability and growth concerns will co-mingle with key events like Friday NFPs
  • Below are links to fundamental and technical outlooks for a range of key markets
Equities Forecast
Equities Forecast
Recommended by Dimitri Zabelin
See the DailyFX analysts’ Q1 forecasts for key markets.
Get My Guide

We are coming off of holiday-curtailed conditions and already there is market turbulence showing up in the opening days of 2020. Ahead, the first full week of the year, we will face a new systemic risk that will complicate the familiar themes. Geopolitical tensions are not exactly new for global financial markets, but we have not had to deal with many such threats recently – or at least the market has not paid what has been unfolding any serious mind. That is until now. The news late this past week that the US had struck a base in Iraq that killed one of Iran’s top generals sent risk-leaning assets like US indices and Yen-based carry trades tumbling while safe havens such as gold have surged. Is this a theme that will usher in a permanent volatility for the new year or will the market retreat back into obliviousness as it did with the last US-Iran flare up?

Geopolitical risks aren’t the only open-ended theme on tap moving forward. Trade wars, recession fears and monetary policy will all stir in the week ahead. From the trade perspective, the US and China are supposedly due to sign the phase one deal the week after, but former’s conflict with Europe is still on the path of escalation. For growth concerns, the optimism in a trade thaw is threatened by the manufacturing tremor seen in data this past week. The United States’ ISM service sector report will speak to that concern particularly. Then there is Friday NFPs, an event capable of charging trader interest all itself; but also a key measure for monetary policy considerations.

All of this event risk – scheduled and unscheduled – will be met with a more rapt audience than we have seen in previous months. With evidence of volatility already in hand, there is a higher probability that sparks can trigger more significant movement moving forward. That could prove remarkable for charts like the S&P 500 which is just off record highs or gold which is on the cusp of reaching a new multi-year peak of its own. Meanwhile, crude oil prices are moving out of a well-established range while EURUSD is threatening to do the same. Has the fuse been lit for these key markets?

 S&P 500 Retreats Record, Gold and Oil Accelerate, Dollar Avoids Breakdown: What’s Ahead?

Gold Price Outlook Bullish as XAU/USD Approaches Key Resistance

Gold prices have recovered a little over five percent after bottoming out in November, and upside momentum continues to be strong as XAU/USD approaches a key resistance range.

Australian Dollar Rides High on Trade Hopes But Watch Geopolitics

The Australian Dollar has gained sharply on a broad improvement in global risk appetite. That seems unlikely to be derailed this week, but watch events in the Middle East closely

Gold (XAU) Weekly Forecast: Gold Price Surges as US-Iran War Drums Begin to Beat

Diplomatic relations between the US and Iran have deteriorated rapidly and any further escalation of military action between the two will drive further demand for safe-haven assets.

GBP/USD Weekly Forecast: Transition Period Rhetoric Key to Sterling Outlook

Pound trades on the defensive to begin the year as UK data remains soft. Next Week will see US NFP in focus, while UK PM Johnson meets Von Der Leyen.

Sterling Price Outlook: British Pound Battle Lines Drawn into 2020

Sterling is virtually unchanged this week with price threatening a larger pullback into the January open. Here are the levels that matter on the GBP/USD weekly chart.

Australian Dollar Outlook: Uptrend Versus USD, JPY, CAD at Risk?

The Australian Dollar lost momentum and is more at risk to reversing against the US Dollar. For now, key support keeps uptrends in AUD/USD, AUD/JPY, AUD/CAD and GBP/AUD intact.

Dow Jones & DAX 30 Forecasts for the Week Ahead

A flare-up in US-Iran tensions saw risk aversion spike on Friday as investors assessed the potential for a wider conflict. Will geopolitics erode the Dow Jones and DAX 30 further?

US Dollar Reversal Staves Off Bear Trend, But Will Support Hold?

A holiday bounce fended off what could have otherwise been a progressive bearish reversal for the US Dollar. With a three-month gradual bearish slide and a few key support levels broken, what is next?

Canadian Dollar Forecast: USD/CAD, NZD/CAD, CAD/JPY and GBP/CAD

The Canadian Dollar could be on the verge of breaking out against the US Dollar after prolonged consolidation. NZD/CAD and CAD/JPY may decline as GBP/CAD aims cautiously higher.

US Dollar Outlook Brighter in New Year After Late-2019 Drop

The US Dollar may return to the offensive as 2020 gets underway after a selloff in the final months of last year brought the currency to an eight-month low.

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


News & Analysis at your fingertips.