An Iranian oil tanker was hit by an explosion leading to oil spilling into the Red Sea, near the Saudi Arabian port city of Jeddah, in a possible "terrorist act", Tehran's state media said. Oil futures continue to extend gains. Spare capacity remains fragile and with supply chain vulnerability a worrying concern at virtually every middle east oil field, traders continue to hedge supply risk premium.

Gold prices are bouncing on the possible terrorist attack as geopolitical risk premium rachet higher.

But Gold prices remain resilient even though bullish momentum wanes, and perhaps the only thing is holding investors from committing full force is waiting for the trade talks to end to make sure no “risk-on " empowering surprise to get pulled out of the hat.

Global data remains weak, and that is unlikely to change if as expected trade talks end with only a tariff detente which is unlikely to shift the expectations immediately for Fed easing through 2019.

In addition, Gold  remains supported via  ETF inflows which seemingly  march on inexhaustibly: Thursday marked the 18th consecutive day of buying, the longest run of inflows since 2009

USD/KRW is trading offered with general optimism on the US-China trade deal and a slew of new contracts by shipbuilders boosting sentiment for the local currency.

USD/CNH traded down to 7.0890 after US President Trump's optimistic comment on the trade talks with China. But dips remain bid . One-month CNH/CNY basis gapped down to 180 at the open but met good dip-buying interest.

Losses in derivatives trading can exceed deposits. Refer to for legal documentation & licences

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD nears weekly highs as risk-on returns

The EUR/USD pair was dragged higher by a soaring Pound, now hovering around 1.1040. The market is all about sentiment, and this last dependent on Brexit and the US-China trade relationship.



GBP/USD surges to 5-month highs on reports of a draft Brexit deal

GBP/USD has leaped toward 1.28, hitting the highest since May. Reports suggest that the UK and the EU are zooming in on a deal. Details are awaited and negotiations continue.


USD/JPY in search of a firm direction, stuck in a range below mid-108.00s

The prevalent risk-on mood weighed on the JPY’s safe-haven status and extended support. A sharp fall in the US bond yields undermined the USD and failed to impress bullish traders.


Cryptos: Incumbents don't know to play well

The Libra project led by Facebook remains on track despite the first defections. Those who have abandoned the project are mostly payment gateways. Bitcoin's lack of tone weighs on Ethereum's mood.

Read more

Gold consolidates in a range below $1500 mark

Gold extended its sideways consolidative price action on Tuesday and remained confined in a narrow trading band, below the key $1500 psychological mark.

Gold News

Forex Majors