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Gold trading vs forex

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gold trading vs forex

Will a New Quarter, Central Bank Detail, NFPs and G20 Charge Volatility? Oil Prices Extend Bullish Sequence as U. Gold Prices Lower on Shifting Policy Outlook- FOMC Minutes, NFP on Tap.

Double Top Taking Shape Below 0. Japanese Yen Technical Analysis: Fundamental Forecast for the U. Dollar put in a precipitous decline this week, setting yet another new low as price action fell below the election night swing from November of last year. But this recent decline probably has less to do with the Fed and more to do with what else is happening in U.

The Euro jumped-higher and continued running-up for most of the week, and the decline in the Dollar really began to show as DXY plummeted down to fresh eight-month lows.

The day after Mr. The bane of the Dollar appears to trading the softening in U. The Citi Economic Surprise Index measures where U. Since then, the index has cratered lower and just last week we saw this indicator hit a five-year low below So, while the Fed remains really confident about near-term conditions and economic outlook, the data simply has not supported that feel-good euphoria and, frankly, it has not kept pace with stronger expectations for growth and inflation in Europe.

On that topic of data - next week is a big one for the Greenback, despite the holiday-shortened backdrop in U. Monday is a half-day across U. Taken from the DailyFX Economic Calendar ; prepared by James Stanley. The challenge around the Dollar at the moment is that while the down-trend is extremely attractive for continuation purposes, the market is oversold by a number of metrics.

So, a bearish break of an already bearish channel below a number gold key support levels. Chart prepared by James Stanley. The forecast for the U. Dollar next week will be set to neutral. Contact and follow James on Twitter: Fundamental Forecast for the Euro: Looking gold help with Euro trade ideas?

The Euro paused to consolidate last week having faced heavy selling pressure though the first half of June, helped by a lull in heavy-hitting news flow. Baseline forecasts see the year-on-year inflation rate falling to 1. However, things may trading more dire than expected. Price growth figures have borne out this general trend, although there have not been enough of them to truly make sweeping assumptions.

That is unlikely to play well with investors cautiously betting that the Trading will soon scale down the size of its monthly asset purchases trading. Indeed, President Mario Draghi may reiterate as much at the annual ECB Forum on Monday.

All this bodes ill for the common unit. Fundamental Forecast for Japanese Yen: With market participation likely to remain light throughout the summer months, the global benchmark equity indices may continue to consolidate over the near-term, and the dollar-yen exchange rate may exhibit a similar behavior especially as the new updates coming out of the Federal Open Market Committee FOMC fail to boost interest-rate expectations.

Even though Fed officials see the benchmark rate climbing to a fresh threshold of 1. Treasury Yield remains depressed and trades near the low 2. As a result, the voting-members New York Fed President William DudleyChicago Fed President Charles EvansVice-Chair Stanley FischerDallas Fed President Robert Kaplan and Fed Governor Jerome Powell scheduled to speak next week may respond by striking a more hawkish outlook for monetary policy, and the central bank may show a greater willingness forex start unloading the balance sheet later this year as the U.

The failed attempt to April-low 1 In turn, the dollar-yen exchange rate may continue to work its way towards the monthly C heck o ut the Quarterly DailyFX Forecasts for a dditional t rading i deas.

Retail trader data shows The number of traders net-long is 2. For m ore i nformation on r etail s entiment, c heck o ut the new gauge developed by DailyFX based on trader positioning.

Sign up for David's e-mail distribution list. Fundamental Forecast for GBP: What took forex markets by surprise was that just the week before a speech by him was interpreted as being dovish. In fact, as so often with central bankers, the explanation could be that Carney used rather careful language that some market analysts oversimplified. The trade-off he was talking about was presumably the one between slow growth and high inflation, which makes UK monetary policy decisions particularly difficult.

So essentially he was saying only that if growth picks up and inflation fails to come dow n a decision to raise rates will become easier. GBP USD Daily Timeframe to Date. There are good reasons, therefore, to expect the Pound to slip back. To contact Martin, email him at martin. Gold Martin on Twitter MartinSEssex. Check trading the free DailyFX Quarterly Forecasts. Fundamental Forecast for Gold: Gold prices were dow n this week with the precious metal off by 0.

However, with concerns over a broader shift in the tone of global central bankers and growing doubts regarding the future of fiscal policy, gold is caught between a rock and hard place with the technical outlook also highlighting a near-term consolidation range. The result has fueled a sell-off in bonds rally in yieldsputting pressure on non-yielding assets like gold. Highlighting the economic docket next week are the U.

ISM figures, FOMC minutes and the June Non-Farm Payrolls report. For gold, the outlook heading into the monthly open remains precarious with the decline now approaching forex up-trend support as sentiment begins to level off.

Find out what current Gold positioning is saying about the current trend. Get more information on Sentiment here Free! A closer look at price action sees gold continuing to trade within the confines of this descending pitchfork formation with prices holding just below a sliding parallel extending off the June 23 rd high. The focus heading into the start of July trade is on channel support which converges on the The immediate short-bias is at risk heading into this threshold.

A close forex would dramatically change the outlook for gold heading into the Q3. Want to learn more about Multi-timeframe analysis? Follow Michael forex Twitter MBForex contact him at mboutros dailyfx. Fundamental Forecast for CAD: The Canadian economy is benefitting from the central banks past policy decisions and pushing ahead, according to commentary from government officials, giving the currency an upward boost, despite lowly oil prices. In addition, a day earlier, BoC deputy governor Carolyn Wilkins said that the strengthening economy had been largely driven by a robust labour market, another hat-tip to prior monetary policy decisions.

And the Loonie rally happened despite the oil market hitting multi-weak lows, a move that would in the past have sent the Canadian dollar spinning lower. The day moving average moved below the day ma, normally a trend-changing signal and highlighting potential ongoing USD weakness against CAD. The USDCAD low of 1.

A look at the IG Client Sentiment Indicator also shows retail traders are still net-long of USDCAD, trading signal that the pair may fall further.

Fundamental Australian Dollar Forecast: Get live coverage of all major Australian economic data at the DailyFX webinars. Last week saw the Australian Dollar gain on its big, US brother after a chorus of more hawkish developed-market central bank governors put the greenback under pressure against their currencies.

Will the Reserve Bank of Australia swell this chorus? The RBA will give us its July monetary policy decision on Tuesday, when the Official Cash Rate is firmly expected to remain at its 1. Assuming it does, all will hinge on what the RBA says to the market in the aftermath. But are the markets getting ahead of themselves here?

It may yet be too early for a credible shift in the neutral tone that the RBA struck in June. Moreover, bets on any actual rate increases from the RBA remain long gold. According to index provider ASX, futures markets do not yet fully price a rise at any meeting between now and November That said, the yield curve now implied by day cash-rate futures suggests somewhat higher rates than it did gold the start of last week; just not forex full, quarter percentage point rise.

Clearly if there is any shift in RBA rhetoric then it will have to be in the hawkish direction and, if it is, then the Aussie can expect the sort of support which the Euro, British Pound and Canadian Dollar enjoyed last week. But only just, yet again. Contact and follow David on Twitter: Fundamental Forecast for NZD: The Reserve Bank of New Zealand meets on Thursday morning local time and a rate move would be a huge surprise.

That could be as far away as late next year. As the chart above shows, NZDUSD has been climbing since mid-May. However, that rally has run out of steam and for the past few sessions the pair has traded sideways.

The data imply that GDP growth this year could be nearer 3. This all suggests a neutral bias for NZDalthough IG Client Sentiment data suggest that NZD USD could resume its uptrend once the current consolidation period ends.

Retail trader data show In fact, traders have remained net-short since May 24when NZD USD traded near 0. The number of traders net-long wa s 1. We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests NZDUSD prices may continue to rise.

Traders we re further net-short than Thursday and last week, and the combination of current sentiment and recent changes gives us a stronger NZDUSD-bullish contrarian trading bias.

Market News Headlines getFormatDate 'Sat Jul 01 Crude Output Narrows getFormatDate 'Sat Jul 01 Technical Analysis Headlines getFormatDate 'Fri Jun 30 Education Beginner Intermediate Advanced Expert Free Trading Guides. Click here to dismiss. Get Your Free Trading Guides With your broad range of free expert guides, you'll explore: News getFormatDate 'Fri Jun 30 News getFormatDate 'Sat Jul 01 News getFormatDate 'Thu Jun 29 Dollar Downtrend in the Spotlight Ahead of FOMC Minutes, NFP getFormatDate 'Sat Jul 01 Neutral Is this a Weak Dollar, or Strong Euro, Pound and Canadian Dollar?

Related Articles Previous Articles From USD Related Prev Articles getFormatDate 'Sat Jul 01 Euro May Fall on Soft Inflation, Dovish Draghi Comments getFormatDate 'Sat Jun 24 Fundamental analysis, economic and market themes Connect via: Bearish Euro dow n move pauses after two weeks of aggressive selling Soft inflation data dim hopes for further tapering of ECB QE Dovish Draghi commentary may com pound selling pressure Looking for help with Euro trade ideas?

Related Articles Previous Articles From EUR Related Prev Articles getFormatDate 'Sat Jul 01 ECB Projections to Set the Tone getFormatDate 'Sat May 27 But Will it Work? Central bank policy, economic indicators, and market events. Related Articles Previous Articles From JPY Related Prev Articles getFormatDate 'Sat Jul 01 Taper Not Yet a Topic of Concern getFormatDate 'Sat Apr 29 Disappointing Data Add to Downside Pressure getFormatDate 'Sat Trading 22 No End In Sight For Accommodative Monetary Policy getFormatDate 'Fri Apr 14 Financial markets, economics, fundamental and technical analysis.

Neutral For some, last week was a game-changer for the British Pound after remarks from Bank of England Governor Mark Carney that they interpreted as being hawkish sent it higher. However, his language was ambiguous and GBPUSD still has a major hurdle to jump on the upside: Check out the DailyFX Economic Calendar gold see what live coverage of key event risk impacting FX markets is scheduled for the week on the DailyFX Webinar Calendar.

Related Articles Previous Articles From GBP Related Prev Articles getFormatDate 'Sat Jul 01 Expect Choppy, Sideways Trading getFormatDate 'Sat Jun 17 Parliament getFormatDate 'Sat May 27 Forex All Depends on the Election Opinion Polls getFormatDate 'Fri May 12 Due For a Deeper Correction Lower. Gold Prices Lower on Shifting Policy Outlook- FOMC Minutes, NFP on Tap getFormatDate 'Sat Jul 01 Short term trading and intraday technical levels Connect via: Related Articles Previous Articles From GOLD Related Gold Articles getFormatDate 'Sat Jul 01 Sell-off Responds to Key Zone of Interest getFormatDate 'Sat May 06 The Canadian Dollar Takes Direction From its Central Bank getFormatDate 'Sat Jun 17 Fundamental analysis and financial markets.

The Loonie hits a three-month low against the USD. Monetary Policy, not the oil price, drives the recent sharp move. Will the BoC hike rates in ? Bullish The Canadian economy is benefitting from the central banks past policy decisions and pushing ahead, according to commentary from government officials, giving the currency an upward boost, despite lowly oil prices. Related Articles Previous Articles From CAD Related Prev Articles getFormatDate 'Sat Jul 01 Set to Weaken Further getFormatDate 'Sat May 20 Which Way Will the BoC Jump?

The Selling Pressure is Off For Now getFormatDate 'Sat May 06 Financial markets, economics, journalism and fundamental analysis. Related Articles Previous Articles From AUD Related Prev Articles getFormatDate 'Sat Jul 01 Interest Rates on Hold Indefinitely getFormatDate 'Sat Jun 17 Neutral The Reserve Bank of New Zealand will keep its official cash rate at 1.

The New Zealand Dollar needs a new catalyst after its recent rally ran out of steam. Related Articles Previous Articles From NZD Related Prev Articles getFormatDate 'Sat Jul 01 Needs a New Impulse as Recent Rally Dries Up getFormatDate 'Sat May 20 NEWS Articles Real Time News Daily Briefings Forecasts DailyFX Authors. CALENDAR Economic Calendar Webinar Calendar Central Bank Rates Dividend Calendar.

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Forex Traders: A breakdown on Gold

Forex Traders: A breakdown on Gold

4 thoughts on “Gold trading vs forex”

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