Oil finding support amid trade optimism/Gold bullish on pre-Christmas days/Phase-one agreement headlines

Dec 24,2019

Regain Capital

Overnight Reviews:

Gold: 0.53%

Silver: 1.53%

US Index: -0.01%

WTI Oil: 0.50%

NDX: -0.42%

Oil finding support amid trade optimism

After last week’s correction, oil market prices were able to find support at 60$ handle amid the US-China trade optimism. However, the market reacted to the dragged US Durable Goods’ data. Asia session opens bearish where investors look for some clear direction to keeping appetite for risk assets underpinned.

Gold bullish on pre-Christmas days

Gold finally made a clear claim on bullish grounds after a flat day for the DXY amid disappointing data from the US Durable Goods MoM report. The uptrend sentiment is attributed to the latest headlines on risk-on Phase-One, and various Geopolitical fronts concern that would be carried on for 2020.

Phase-one agreement headlines

One of the main drivers for the market sentiment relies on the Phase-one deal, where last Saturday, Mr. Trump, said that they would “very-shortly” sign the trade pact. But the latest headlines are quite conflicting, where China is not pleased with the US interfering on their internals’ affairs, but immediately after China also announced that they would lower import tariffs on over 850 products. Yes, no who knows, Merry Christmas to you all.

Main Events Today GMT +8

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Oil finding support amid trade optimism/Gold bullish on pre-Christmas days/Phase-one agreement headlines

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