Oil prices gathering bullish momentum/Gold struggling but holding /Impeachment Voted

Dec 19,2019

Regain Capital

Overnight Reviews:

Gold: -0.04%

Silver: -0.07%

US Index: 0.18%

WTI Oil: 0.57%

NDX: -0.32%

Oil prices gathering bullish momentum

Crude oil bullish bias continues uninterrupted, five days in a row registering gains. Yesterday oil price testes new high at $61.17 renewing a fresh multi-month high after EIA (Energy Information Administration) reported data shows a decline in the US oil stockpile inventories.

Gold struggling but holding

The precious metal continues to be traded thinly, while investors remained uncertain towards the US-China trade front. New concerns are lingering in the air; we are talking about the impeachment. Traders stay cautious about it failing to benefit from the earliest headlines. The Asian session is showing some upward momentum after recent confirmation from the House of Representative officially voted to impeach US President.

Impeachment Voted

The House of Representatives votes to pass the article has secured majority vote to impeach US President Trump for abuse of power. Reaction captured by the marked, where the safe-haven is already showing some strength with the USD under slight pressure.

Main Events Today GMT +8

17:30 GBP Retail Sales m/m

20:00 GBP MPC Official Bank Rate Votes

20:00 GBP Monetary Policy Summary

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Oil prices gathering bullish momentum/Gold struggling but holding /Impeachment Voted

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