Oil bullish paused/Gold giving back some grounds/Risk-off in the market as lack of headlines

Jan 07,2020

Regain Capital

Overnight Reviews:

Gold: 0.86%

Silver: 0.50%

US Index: -0.28%

WTI Oil: -1.37%

NDX: 0.38%

Oil bullish paused

The crude oil market bullish rise stalled yesterday as the market came into a risk-off mode, amid no new threats’ news regarding the tussle in the Middle East. Although the market concern continues, there was a pause in the imminent panic after the airstrike in Baghdad. Yesterday some profit-taking after recording a new high at 64.69 dollars per barrel.

Gold giving back some grounds

Although the safe-havens assets were the best performers, with the precious metal reaching new high at prices previously seen in 2013, the gold gave back some gains during yesterday’s intraday US trading hours, showing significant pressure from sellers capturing some profits as the dust settle in the US-Iran front.

Risk-off in the market as lack of headlines

The risk-off mode eased throughout yesterday, as no upbeat data on the imminent conflict raised in the Middle East arise. The safe-havens experienced a pullback giving some gains from previous days. The Ninja is currently challenging a key resistance level, technically speaking, as Mid-East tensions fade.

Main Events Today GMT +8

23:00 USD ISM Non-Manufacturing PMI

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Oil bullish paused/Gold giving back some grounds/Risk-off in the market as lack of headlines

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