Oil bullish jump as retaliation actions/Gold recording new high/US-Iran and FX implications

Jan 08,2020

Regain Capital

Overnight Reviews:

Gold: 0.54%

Silver: 1.50%

US Index: 0.33%

WTI Oil: -0.23%

NDX: -1.44%

Oil bullish jump as retaliation actions

The crude oil market bullish rise as the Mid-East tussle delivers another shock. Recent risk-on sentiment happens after missiles confirmation being launched from Iran to Iraq Air Base Ain Assad that is hosting US forces. This retaliation is trimming gains as prospects of a full-blown by the US.

Gold recording new high

The precious metal continues its bullish momentum recording a new fresh high at the opening of the Asian trading session. Although retreating from multi-year highs as market awaits for clear direction. Investors and traders reacted immediately after rumors of Iran missiles launched towards Iraq’s airbase.

US-Iran and FX implications

In case of war threats won’t dissipate, the market would move back to risk-on sentiment, investors would most probably move massively into safe-havens assets, creating an imbalance on different market instruments. For instance, just yesterday, based only on hearsays about the US-Iran conflict Wall Street closed in red, what could happen now after Iran missiles and possible full-blown by the US? Let’s buckle up.

Main Events Today GMT +8

08:30 AUD Building Approvals m/m

21:15 USD ADP Non-Farm Employment Change

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Oil bullish jump as retaliation actions/Gold recording new high/US-Iran and FX implications

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