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Daily Financial Market News

Tue, 23 Jan 2018 09:00:00 GMT

Gold Prices Rise Even as US Government Shutdown Ends

Gold Prices Rise Even as US Government Shutdown Ends Search DailyFX Home Rates Charts News Market News Real-Time News Daily Briefings Forecast Market Alerts DailyFX Authors Articles Market News Headlines Traders Urged to Respond to Proposed European Rule Changes Euro May Shrug Off Soft PMI Data, Looking Ahead to ECB Meeting AUD/USD Rally Approaching Initial Resistance Targets Technical Analysis Analysis Technical Analyst Picks Support & Resistance Daily Technical Reports Pivot Points Sentiment Articles Algorithmic Trading Technical Analysis Headlines FTSE Technical Outlook – Consolidation Period Would Do Some Good Japanese Yen Technical Analysis: USD/JPY Wilts, 107 Could Beckon As Dollar Weakness Presists, Yen May Rally Calendars Economic Calendar Webinar Calendar Central Bank Rates Dividend Calendar Forex Economic Calendar Time Event Actual Forecast Rates Charts Education Education Beginner Intermediate Advanced Expert Free Trading Guides DAILYFX PLUS × Get the best parts of DailyFX.com in the new DailyFX App Download × Join Us For Our Free Webinars Get daily market analysis from our in-house experts Choose from more than 25 webinars each week Put your questions to our experts in real-time Q&As Register now Want to hold off on improving your trading? Click here to dismiss. × Get Your Free Trading Guides With your broad range of free expert guides, you'll explore: The basics of forex trading and how to develop your startegy Foundational knowledge to help you develop an edge in the market What's ahead for major FX pairs, Gold, Oil and more Download a Free Guide Want to hold off on improving your trading? Click here to dismiss. EUR/USD Low High View More Note: Low and High figures are for the trading day. News Euro May Shrug Off Soft PMI Data, Looking Ahead to ECB Meeting USD & JPY Get Haven Bids as Trump Protectionism Returns EUR/USD Boosted as German Economic Sentiment Soars GBP/USD Low High View More Note: Low and High figures are for the trading day. News Investor Sentiment Remains Buoyant as US Government Shutdown Ends USD & JPY Get Haven Bids as Trump Protectionism Returns A Weekly Technical Perspective on GBP/USD, USD/CAD, USD/CHF USD/JPY Low High View More Note: Low and High figures are for the trading day. News USD/JPY Elliott Wave Analysis Points Towards 107 Japanese Yen Technical Analysis: USD/JPY Wilts, 107 Could Beckon Japanese Yen Shrugs at Strong Local Data After Dovish BOJ Gold Low High View More Note: Low and High figures are for the trading day. News Trading Outlook for Gold & Silver, Crude Oil, Copper, DAX & More Gold Prices Rise Even as US Government Shutdown Ends Gold Awaits Dollar’s Lead Before Deciding Breakout or Reversal Oil Low High View More Note: Low and High figures are for the trading day. News Gold Prices Rise Even as US Government Shutdown Ends Weekly Technical Outlook- USD Warning Signs of Stretched Price Action Crude Oil Prices Struggle as Gold Eyes US Government Shutdown BITCOIN Low High View More Note: Low and High figures are for the trading day. News Bitcoin, Ethereum, Ripple; Technical Support Still Needed Bitcoin Shifts to a Mixed Trading Bias Bitcoin, Ethereum, Ripple Prices Crumble, Market Capitalization Slashed View More More Real-Time News Facebook Twitter Youtube Google + Gold Prices Rise Even as US Government Shutdown Ends by  Ilya Spivak, Sr. Currency Strategist  Fundamental analysis, economic and market themes Connect via: Talking Points: Gold prices rise as US Dollar selling resumes after gov’t shutdown ends Crude oil prices push upward after major US refiner files for bankruptcy Find out here what clues retail traders’ bets offer about gold price trends Gold prices rose as lawmakers reached a deal ending the US government shutdown . The stopgap measure will allow for full operations to resume through February 8. The disruption amounted to just one working day, which is probably not enough to meaningfully derail US or global growth momentum. That breathed new life into the “reach for yield” narrative and hurt the US Dollar , boosting the yellow metal by extension. Crude oil prices saw a burst of seesaw volatility that ultimately took the WTI benchmark higher on news that Philadelphia Energy Solutions LLC , responsible for over a quarter of refining capacity on the east coast of the US, has filed for bankruptcy. The spotlight now turns to weekly API inventory flow statistics, which will be judged against bets on a 1.02 million barrel drop to be reported in official data Wednesday. Check out our guide to learn what are the long-term forces driving crude oil prices ! GOLD TECHNICAL ANALYSIS – Gold prices are attempting a cautious recovery but a move beyond recent ranges remains elusive. A break above the 38.2% Fibonacci expansion at 1342.49 exposes 1353.03 (trend line, 50% level). Alternatively, a turn below resistance-turned-support at 1325.96 (January 4 high) opens the door for a test of the 1303.32-08.38 area (38.2% Fib retracement, January 10 low). Chart created using TradingView CRUDE OIL TECHNICAL ANALYSIS – Crude oil prices are struggling to make good on a bearish Evening Star candlestick pattern, treading water above the 23.6% Fibonacci retracement at 62.80. A daily close below this barrier initially exposes the 38.2% level at 61.52. The first layer of key resistance remains at 64.86, the January 15 high. Chart created using TradingView --- Written by Ilya Spivak, Currency Strategist for DailyFX.com To receive Ilya's analysis directly via email, please SIGN UP HERE Contact and follow Ilya on Twitter: @IlyaSpivak DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. 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