Oil with losses but still bullish/Gold continues rally/DXY recovered some grounds

Jan 03,2020

Regain Capital

Overnight Reviews:

Gold: 0.73%

Silver: 0.81%

US Index: 0.33%

WTI Oil: -0.10%

NDX: 0.54%

Oil with losses but still bullish

The market registered small losses yesterday, but still over the 61 handle. With thin trading sessions and small daily losses, the market remains in the bullish zone. The latest breaking news about the airstrike in Baghdad has taken the market by surprise, with the benchmark WTI reaching new high at 63.81$.

Gold continues rally

The precious metal again was able to register a new high closing at 1,528.90$ per ounce, with an incredible opening today with the Asian trading session, were also benefiting from the US’s airstrike to Baghdad. The solid rally since 23 December has overextended the price far from the DMA.

DXY recovered some grounds

Finally, after six trading sessions in a clear bearish zone, the US dollar index was able to register some modest gains, recovering some grounds and closing above 96 handle. However, strong bearish bias remains from a broad perspective. Safe-havens continues to advance against the greenback despite the risk appetite in the market.

Main Events Today GMT +8

23:00 USD ISM Manufacturing PMI

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Oil with losses but still bullish/Gold continues rally/DXY recovered some grounds

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