Crude oil market fails to soar/Gold market correction/Greenback continues to gain

Jan 10,2020

Regain Capital

Overnight Reviews:

Gold: -0.27%

Silver: -1.02%

US Index: 0.16%

WTI Oil: -0.68%

NDX: 1.00%

Crude oil market fails to soar

The WTI benchmark remains under pressure, failing to hold over 60$ in the Asian session today. Dropping to the lowest in four-week amid basically to the mixed geopolitical signal and the de-escalation on the ME risk. Technically speaking, the price would hopefully find support over the 50 EMA as it consolidates.

Gold market correction

The gold market also expended the day in consolidation failing to hold the 1,600 handle reached last Wednesday, aimed towards September’s level around 1,535. The failure to stay strong is due to the remaining seller pressure and investor shifting into the greenback as easing fears about an escalation in the Mid-East.

Greenback continues to gain

The DXY dollar index has been benefited by market sentiment towards the easing fears and de-escalation of the Middle East conflict between Iran and the US. The US market’s latest report has increased investor confidence where eyes today will be focused on the Non-Farm Employment Change.

Main Events Today GMT +8

08:30 AUD Retail Sales m/m

21:30 CAD Employment Change

21:30 CAD Unemployment Rate

21:30 USD Average Hourly Earnings m/m

21:30 USD Non-Farm Employment Change

21:30 USD Unemployment Rate

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Crude oil market fails to soar/Gold market correction/Greenback continues to gain

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