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
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
Bearish
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
Bearish
GBP/USD
Bullish
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
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-05-25
  • 🇲🇽 Balance of Trade Actual: $-3.087B Expected: $2.04B Previous: $3.398B https://www.dailyfx.com/economic-calendar#2020-05-25
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.32%, while traders in US 500 are at opposite extremes with 76.77%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Tha105cXZ5
  • Heads Up:🇲🇽 Balance of Trade due at 11:00 GMT (15min) Expected: $2.04B Previous: $3.392B https://www.dailyfx.com/economic-calendar#2020-05-25
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.73% Gold: -0.29% Silver: -0.85% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/enjCuKY7xE
  • $SPX faces pivotal resistance, while #FTSE 100 continues to trade in rangebound fashion. Get your #equities technical analysis from @JMcQueenFX here: https://t.co/JXLZIbXzrQ https://t.co/37cpFa4skw
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.21% 🇬🇧GBP: 0.11% 🇦🇺AUD: -0.03% 🇳🇿NZD: -0.05% 🇨🇭CHF: -0.06% 🇯🇵JPY: -0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/W8OTNI6e3n
  • 🇮🇱 GDP Growth Rate QoQ 1st Est Actual: -1.8% Previous: 1.1% https://www.dailyfx.com/economic-calendar#2020-05-25
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.93% France 40: 1.28% FTSE 100: 1.25% Wall Street: 1.10% US 500: 1.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Fn5s0UlxkI
  • Heads Up:🇮🇱 GDP Growth Rate QoQ 1st Est due at 10:00 GMT (15min) Previous: 1.1% https://www.dailyfx.com/economic-calendar#2020-05-25
Markets Brush Off Geopolitics, Gold Nears Strong Support

Markets Brush Off Geopolitics, Gold Nears Strong Support

2018-04-16 08:15:00
Nick Cawley, Strategist
Share:

Gold News and Prices

- Traditional risk markets left unmoved but worries persist as US likely to ramp up Russian sanctions.

- Gold nears technical support

DailyFX Q2 Trading Forecasts for gold, oil, major currency pairs and equities are now available to download for free.

Financial Markets Ignore Geopolitical Tensions for Now

Risk markets opened marginally higher in Europe Monday, despite the US, UK and France carrying out bombing raids on Syrian chemical weapon facilities late Friday. The US has also promised to impose new sanctions against Russia for supporting the Syrian regime, an action that will increase the already frosty relationship between the two countries. US Treasury Secretary Steve Mnuchin is expected to announce the new sanctions on Monday. European equity markets opened flat to +0.25%, traditional safe haven currencies the Yen and Swiss Franc were little changed while oil edged lower after last week’s bullish surge.

Gold Drifts Lower into Support

The price of gold also drifted lower in early turnover but is nearing technical support which should temper any downward move. The chart below shows 23.6% Fibonacci retracement support of the December 12 – January 25 rally at $1,335.5/oz., while the 50-day moving average currently sits at $1,331.5/oz. Further down their there is minor support from the oblique downtrend at $1,324.6. On the upside, $1,353.8/oz guards $1,362/oz. and the January high of $1,366/oz.

Gold Price Chart Daily Time Frame (August 23, 2017 – April 16, 2018)

Markets Brush Off Geopolitics, Gold Nears Strong Support

FX Trading Resources

What’s your opinion on the current market view of risk?Share your thoughts with us using the comments section at the end of the article or you can contact the author via email at nicholas.cawley@ig.com or via Twitter @nickcawley1.

--- Written by Nick Cawley, Analyst

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

DISCLOSURES

News & Analysis at your fingertips.