Oil prices waiting for tariff confirmation/Safe-haven traded mixed /Market shift in preference

Dec 11,2019

Regain Capital

Overnight Reviews:

Gold: 0.20%

Silver: 0.37%

US Index: -0.13%

WTI Oil: 0.34%

NDX: -0.10%

Oil prices waiting for tariff confirmation

The black commodity currently holding strong near its $59 handle, while waiting for confirmation of US tariffs on China which would harm manufacturing sectors and raise global demand concerns. Investors will also focus on OPEC monthly report and EIA inventories report.

Safe-haven traded mixed

US Economic Council Larry Kudlow stated on Tuesday that December 15 tariff remains on the table, spiraling further uncertainties and allowing precious gold to rebound slightly. Market remains sceptical as they focus first on today’s US inflationary data and the last FED policy meeting for this year to gain further signal.

Market shift in preference

Investors shifted their preference from dollar to euro market following rebound in German economic sentiment. Dollar index pared last Friday’s gains amid trade uncertainties, and improving conditions in the Eurozone led to yesterday’s shift in portfolio.

Main Events Today GMT +8

21:30 USD Core CPI m/m

23:30 OIL Crude Oil Inventories

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Oil prices waiting for tariff confirmation/Safe-haven traded mixed /Market shift in preference

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