Oils keep snapping win/Safe-haven still in consolidation with a not clear bias/US-China trade deal confirmed

Jan 15,2020

Regain Capital

Overnight Reviews:

Gold: -0.12%

Silver: -0.88

US Index: 0.03%

WTI Oil: 0.16%

DOW 30: -0.67%

Oils keep snapping win

Despite the long-awaited Phase One agreement deal yesterday, the oil market has kept snapping its wins with six-days in a row losing streak. The market continues lacking a clear direction with investors and traders’ eyes for today crude oil inventories report by the EIA, where it could dissipate or not the agony around oversupply in a contracted global economy.

Safe-haven still in consolidation with a not clear bias

The expectations from yesterday’s signing of the deal in Washington, together with de-escalation of the ME conflict, shaved previous gains for the yellow metal. However, yesterday’s trading session showed some exhaustion from sellers, with gold currently trading at 1,551.42$.

US-China trade deal confirmed

The signing ceremony between the US and China at the White House was confirmed yesterday at 1630 GMT, with new, unexpected outcomes hitting the media. On one side, US officials denied any plan to reduce duties on China, with the tariff lingering until after 2020 presidential elections. Not much clarity about the event as not a full release of details from either of the parts.

Main Events Today GMT +8

16:40 GBP MPC Member Saunders Speaks
17:30 GBP CPI y/y

23:30 USD Crude Oil Inventories

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Oils keep snapping win/Safe-haven still in consolidation with a not clear bias/US-China trade deal confirmed

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