Oil market flat session/Gold taking a break after the rally/Downside risks over the Cable

Dec 30,2019

Regain Capital

Overnight Reviews:

Gold: -0.02%

Silver: -0.73%

US Index: -0.54%

WTI Oil: -0.11%

NDX: 0.06%

Oil market flat session

Last Friday, the WTI benchmark experienced a thin trading session after breaking a critical trendline. The market was expecting the report on inventory levels from the EIA; although it was a larger than expected draw from 1.7M to 5.5M, the market kept dull but still hovering within a bullish territory.

Gold taking a break after the rally

The precious metal took a break and traded flat last Friday after three days of a strong bullish rally that placed the price on the 1,500 handle, reaching again levels from November the 1st. This Christmas’ rally was affected by the thin liquidity during this last holiday-shorted week.

Downside risks over the Cable

Apparently, there still some downside risks over the British Pound. The markets have not yet fully understood the coming difficulties concerning phase two negotiation about the Brexit trading rules with the EU. January would be an exciting month for the Cable due to the divorce deal and continued weakness in the economy.

Main Events Today GMT +8

21:45 USD Chicago PMI

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Oil market flat session/Gold taking a break after the rally/Downside risks over the Cable

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