Bullish oil market sentiment /Precious gold holding grounds/Pound plunged to weekly lows

Jan 20,2020

Regain Capital

Overnight Reviews:

Gold: 0.31%

Silver: 0.53%

US Index: 0.34%

WTI Oil: 0.34%

DOW 30: -0.02%

Bullish oil market sentiment

Oil prices trimmed its losses last week while denying a bullish reversal as its rebound from its upward trendline. Positive sentiment from signing of Phase One trade deal, alongside with Middle East tensions and lower inventories level in US kept oil demands in place.

Precious gold holding grounds

Safe-haven gold managed to hold its grounds last week, despite the signing of Phase One trade deal. Risks floating in the market had caused investors to hold on to the precious gold, with latest tension in the Middle East further causing risk aversion after a missile and drone attack took hundreds of lives in Yemen.

Pound plunged to weekly lows

Pound sterling faced major sell-off on Friday, with downbeat Retail Sales data applying the bearish pressure. As the country still faces risks of no-deal Brexit, current focus is placed onto the region’s economic performance, where further weakness will trigger a rate cut decision by the Bank of England (BoE).

Main Events Today GMT +8

N/A

Previous article: Oils price recorded modest gains/Gold edging lower/US Retail Sales report

Next article : Oil prices struggling /Gold price consolidating/US-France tariff truce

Bullish oil market sentiment /Precious gold holding grounds/Pound plunged to weekly lows

MAIL