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
Bullish
Oil - US Crude
Mixed
Wall Street
Bearish
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
Bearish
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:https://t.co/Zbd1TSiIuc https://t.co/LQQe4Wpg2N
  • 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. https://t.co/j9VI9UQc7N
  • Gold Price Forecast: XAU/USD Bid on Weak Dollar, Softer Yields -via @DailyFX Link to Full Analysis: https://www.dailyfx.com/forex/market_alert/2021/05/18/gold-price-forecast-xau-usd-bid-on-weak-dollar-softer-yields.html $XAUUSD $GLD $GC_F https://t.co/Cs94yiNhfI
  • 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:https://t.co/I2oeWXMFLc https://t.co/C49ElPMI7l
  • 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
Gold Hits Fresh Monthly High- USD Bulls Banking on Fed Minutes?

Gold Hits Fresh Monthly High- USD Bulls Banking on Fed Minutes?

David Song, Strategist

Talking Points:

- Gold Climbs to Fresh Monthly High- Threatens Bearish RSI Momentum.

- GBP/USD Breakout to Gather Pace on Strong U.K. Retail Sales.

- USDOLLAR Fails to Benefit From Sticky CPI- FOMC Minutes in Focus.

For more updates, sign up for David's e-mail distribution list.

XAU/USD

XAU/USD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Gold (XAU/USD) appears to be making a larger assault at the bearish RSI momentum as it climbs to a fresh monthly high of $1129; bullish trigger raises the risk for a larger correction in the precious metal.
  • Will keep a close eye on $1138 (50% retracement) in light of the near-term rebound, with the key area of interest coming in around the former support zone, $1145 (78.6% expansion) to $1146 (50% retracement) amid the weakening outlook for global growth.
  • DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-long XAU/USD since May, with the ratio coming off of recent extremes as it narrows to +1.24, with 55% of traders long.

GBP/USD

GBP/USD Daily Chart
  • A series of closing prices above 1.5630 (38.2% retracement) to 1.5650 (38.2% expansion) may encourage a further advance in GBP/USD especially as the bullish RSI momentum continues to take shape.
  • With U.K. Retail Sales projected to rebound 0.4% in July, signs of a stronger recovery may spur a growing dissent within the Monetary Policy Committee (MPC) & heighten the bullish sentiment surrounding the British Pound.
  • Will keep a close eye on the topside targets amid the near-term breakout, with the next region of interest coming in around 1.5750 (23.6% retracement) to 1.5790 (50% expansion).

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

Price & Time: USD/CAD Holding Up Well

Scalping NZDUSD Opening Range- 6630 Resistance Remains Key Hurdle

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

12000.53

12005.89

11979.28

-0.01

52.23%

Gold Hits Fresh Monthly High- USD Bulls Banking on Fed Minutes?USDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar holds within the previous day’s range ahead of the Federal Open Market Committee (FOMC) Minutes even though the U.S. Consumer Price Index (CPI) were in-line with market expectations; suggest market participants are waiting for clarity on the monetary policy outlook.
  • Given the unanimous vote along with the limited commentary following the July 29 interest rate decision, may get more of the same as the Fed continues to look for a further improvement in the labor market.
  • Will continue to watch 12,049 (78.6% retracement) as the USDOLLAR continues to come off of near-term support around 11,951 (38.2% expansion) to 11,965 (23.6% retracement).

Join DailyFX on Demand for Real-Time SSI Updates!

Gold Hits Fresh Monthly High- USD Bulls Banking on Fed Minutes?

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

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

DISCLOSURES