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.

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
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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
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
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/1rhLp4LnfN
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/RKYGzRStvL
  • The US Dollar is moving higher after a blowout NFP report bolstered confidence in the US economic recovery. Markets will now turn attention to next week’s US inflation data which could boost the Greenback. Get your market alert from @FxWestwater here: https://t.co/Ud62r3hKRF https://t.co/dvvDCJvlbP
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/7g9pB8D9xK
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/OCLzmXaDCu
  • Technical analysis of charts aims to identify patterns and market trends by utilising differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/UZela9nSIm
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/7oqC3ykBbU
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/IgUIG55MbH
  • Supply constraints, rebounding global demand and rising inflation expectations may drive crude oil prices higher in the near term. Get your market update from @DanielGMoss here: https://t.co/ezPoAwcJt7 https://t.co/NMfk1cYSvE
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/OiRiBVeuzL
Gold Loses Safe Haven Appeal as Trade War Boosts JPY, CHF, EUR

Gold Loses Safe Haven Appeal as Trade War Boosts JPY, CHF, EUR

Martin Essex, MSTA, Analyst

Trade war news and analysis:

- The US China trade war continues to prompt demand for safe havens, with flows into the Japanese Yen, the Swiss Franc and the Euro.

- However, one traditional safe haven, Gold, is singularly failing to benefit.

Check out the IG Client Sentiment data to help you trade profitably.

Trade war continues to damage market confidence

The prospect of a US trade war with China, the European Union and others continues to prompt flows into assets seen as safe havens at times of market turmoil. That is again boosting two of the traditional havens: the Japanese Yen and the Swiss Franc. However, the Euro seems to be joining the haven ranks at the expense of Gold, which is seeing little demand.

The latest trade war developments are still worrying the markets, including proposed restrictions on foreign investment in US technology companies and a warning by Harley-Davidson that it would focus on shifting some US production to other countries.

As to be expected, that has boosted the Japanese Yen and the Swiss Franc, with USDJPY falling to its lowest level since June 11 and USDCHF to its weakest since June 14. Unusually though, the Euro is strengthening too, with the single currency increasingly seen as an alternative haven. In Asia Tuesday, EURUSD reached its highest level since its sharp fall on June 14, when European Central Bank President Mario Draghi signaled the end of ECB asset purchases in December.

EURUSD Price Chart, One Hour Timeframe (June 14-26, 2018)

Latest EURUSD price chart.

Chart by IG

That Euro strength has come despite US President Donald Trump threatening tariffs on EU car imports. Surprisingly, though, there has been no similar strengthening of the Gold price, with the precious metal currently trading at its weakest so far this year.

Gold Price Chart, Daily Timeframe (November 24, 2017 – June 26, 2018)

Latest gold price chart.

Chart by IG

For traders looking for safe assets therefore, Gold appears to be losing its shine, and may continue to do so even if the trade war intensifies further.

More to read on trade wars

China’s Position and Stakes in the Growing Trade War with the US

DAX Price Analysis - Trump’s Trade Wars Pummel Valuations

Resources to help you trade the forex markets

Whether you are a new or an experienced trader, at DailyFX we have many resources to help you: analytical and educational webinars hosted several times per day, trading guides to help you improve your trading performance, and one specifically for those who are new to forex. You can learn how to trade like an expert by reading our guide to the Traits of Successful Traders.

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

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

DISCLOSURES