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.



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
Wall Street
More View more
Real Time News
  • The #HSI Hang Seng Index surged 2% to above the 30,000 mark, led by strong gains in the technology sector: - Tencent (+8.39%) - Meituan (+5.4%) - Alibaba (+3.8%) - Xiaomi (+2.85%)
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Silver: 0.40% Gold: -0.05% Oil - US Crude: -0.23% View the performance of all markets via
  • 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:
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.34% 🇦🇺AUD: 0.23% 🇨🇦CAD: 0.22% 🇪🇺EUR: 0.03% 🇯🇵JPY: -0.01% 🇨🇭CHF: -0.03% View the performance of all markets via
  • #Bitcoin, #Ethereum Outlook: ETH Poised to Outperform BTC in Near Term - $BTC $ETH $BTCUSD $ETHUSD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Wall Street are at opposite extremes with 64.73%. See the summary chart below and full details and charts on DailyFX:
  • Tune in to @IlyaSpivak 's #webinar at 10:00 PM ET/3:00 AM GMT for insight on the cross-market outlook in the week ahead. Register here:
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here:
  • In the week ahead, around 25% of S&P 500 companies will release their results, including GE, Johnson & Johnson, 3M, Microsoft, Boeing, AT&T, Facebook, Apple, Tesla, Visa and Amazon. Read more on my earnings outlook report.
  • Wall Street Futures Update: Dow Jones (+0.20%) S&P 500 (+0.28%) Nasdaq 100 (+0.51%) [delayed] -BBG
Gold Capped but US Inflation Data May Push Prices Lower

Gold Capped but US Inflation Data May Push Prices Lower

Nick Cawley, Strategist

Talking Points

- Gold struggles to regain last Friday’s NFP-losses as the US Dollar stabilizes near its recent lows.

- Traders will look to Friday’s inflation report for the next short-term movement.

Check out our new Trading Guides: they’re free and have been updated for the third quarter of 2017.

After falling sharply after the release of last Friday’s strong-than-expected NFP release, gold has struggled to make any decent headway as the US dollar sentiment changes from negative to neutral. Friday’s fall took the precious metal out of its previous upwards channel and any further strength in the USD may see the 100-day ema, currently at $1248.7/oz, as a possible target. With Friday’s consumer price index expected to tick-up to 1.8% from last month’s 1.6%, any upside beat will push bond yields higher and make gold as an asset class less attractive.

Gold Price Chart: Daily Timeframe (April – August 8, 2017)

Gold Capped but US Inflation Data May Push Prices Lower

Chart by IG

The US dollar in contrast may be looking at short-term support after this year’s heavy falls. The US Dollar Index has lost over 10% since the start of the year – from 103.8 to 93 - on a lack of fiscal clarity and action by US President Trump and a resurgent Euro. The strength of the EUR however is now presenting ECB President Draghi with its own problems as it weighs on inflation in the single bloc. The ECB’s head is still committed to get inflation up to the central bank’s target of around 2%, from a current level of 1.3%, increasing expectations that the current loose monetary policy will remain in place for longer than originally thought.

Those however who believe that gold has further upside potential will take heart from the recent IG Client Sentiment indicator – a contrarian view to crowd sentiment - which highlights that the current price trend may reverse higher despite retail traders remaining net-long. While data shows 62.0% of traders are net-long with the ratio of traders long to short at 1.63 to 1, the percentage of traders net-long is now its lowest since Mar 31 when it traded near $1248.9/oz.However sentiment may be changing with the number of traders net-long 1.1% lower than yesterday and 11.3% lower from last week, while the number of traders net-short is 25.3% higher than yesterday and 45.2% higher from last week.

Why and how do we use the IG Client Sentiment in trading? See our guide and real-time data.

--- Written by Nick Cawley, Analyst

To contact Nick, email him at

Follow Nick on Twitter @nickcawley1

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