Crude oil practically mute/Gold market consolidation /Greenback under mild pressure

Jan 13,2020

Regain Capital

Overnight Reviews:

Gold: 0.66%

Silver: 1.22%

US Index: -0.09%

WTI Oil: -0.67%

NDX: -0.83%

Crude oil practically mute

The WTI benchmark bears consolidate the downside, with the oil price keeps defending the 59 handle with a market that remains mute after last week’s turmoil in the Middle East. The bearish bias remains intact amid the fade of escalation over the US-Iran tussle.

Gold market consolidation

The gold market consolidation at around 1,550 handle, where last Friday gains are attributed to the sparse data from the NFP report, with a weak opening on Asian session today after no official confirmation of the latest news swirling the social media about four rockets slamming into Iraq.

Greenback under mild pressure

The DXY dollar index close in negative after a weak and disappointing data from the long waited for NFP (Non-Farm Payroll) report last Friday. The quite weekend after no significant political events continue with the previous week’s sentiment in the market. On the trade deal front confirmation from the US side about this week deal signs in Washington will keep the market in business as usual.

Main Events Today GMT +8

23:30 CAD BOC Business Outlook Survey

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Crude oil practically mute/Gold market consolidation /Greenback under mild pressure

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