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 clings to 3.5-week’s high, trades above 1.1000 figure

The pair is challenging the 1.1047 resistance. EUR/USD bull recovery from 34-month lows remains intact. Further coronavirus headlines are awaited.


GBP/USD hits new 2020 low and bounces amid Brexit rhetoric, coronavirus headlines

GBP/USD is trading above 1.2800 after hitting a new 2020, nearing the 1.2700 figure, as concerns about a no-trade-deal Brexit are weighing on the pound. Modest recovery seen in USD during the American session keeps the bearish pressure intact.


XAU/USD tumbles near two-week’s lows, sub-$1600/oz

Gold has been dropping sharply this Friday while reaching the 200 SMA on the four-hour chart. XAU/USD bulls gave up as sellers took the market down sharply. The bears seem to be in charge and more down could potentially be expected. 

Gold News

WTI remains under pressure around $45.00

Nothing new around crude oil prices, with rising concerns on the Chinese COVID-19 and its potential impact on the economy and the demand for the commodity keeping traders’ sentiment well depressed.

Oil News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info

Forex Majors