Oil came negative into 2020/Gold testing new highs/Caixin Manufacturing PMI

Jan 02,2020

Regain Capital

Overnight Reviews:

Gold: 0.15%

Silver: 0.00%

US Index: -0.06%

WTI Oil: -0.44%

NDX: 0.06%

Oil came negative into 2020

The crude oil market came into 2020 with a negative trading session. Closing in 61.35$. The WTI benchmark will open back this Thursday with the US markets in a positive note after headlines about the signing of the Phase-One deal; the agreement is already “in the Bank” and being translated.

Gold testing new highs

The precious metal was able to record a fresh high this 31 December, although closing later with some sellers’ pressure forming a bearish candle. Even with the market profoundly biased risk-off, the gold market is still on a bullish foot, where the trade deal will continue to be a mystery and a supportive factor for the safe-haven.

Caixin Manufacturing PMI

It’s worth to mention that China’s December month Caixin Manufacturing PMI continues to improve, with firms registering a further sharp rise in output. This positive manufacturing data from Beijing would move the risk sentiment towards the commodity and energies market together with the signing of the trade deal.

Main Events Today GMT +8

09:45 CNY Caixin Manufacturing PMI

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Oil came negative into 2020/Gold testing new highs/Caixin Manufacturing PMI

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