Oils price with not reaction /Gold recover despite positive trade/political optimism/US-China phase-one deal signed

Jan 16,2020

Regain Capital

Overnight Reviews:

Gold: 0.64%

Silver: 1.24%

US Index: -0.17%

WTI Oil: -0.20%

DOW 30: 1.40%

Oils price with not reaction

Crude oil market closed negative despite the encouraging EIA report showing a larger than expected drawdown in US crude stockpiles, lifting the concern about oversupply in the market. The market is trading just above the 58 handle in the Asian session opening and still looks for the catalyst for the bulls’ side.

Gold recover despite positive trade/political optimism

The yellow metal seems to concentrate more recently on the US dollar weakness than trade/political optimism headlines. Trading at 1,555 handle, previous high from last September. The investors should now consider the bearish pressure that may likely rise in the US market opening.

US-China phase-one deal signed

President Trump officially signs the long-waited “phase-one” trade deal, calling it a “momentous step forward.” The 94 pages agreement most relevant commitments are: China crackdown on intellectual property theft, purchase of $200BB of US goods in 2 years, and last but not least avoid currency manipulation. The market still waiting for the dust to settle to make their bets.

Main Events Today GMT +8

20:30 EUR ECB Monetary Policy Meeting Account
21:30 USD Core Retail Sales m/m

21:30 USD Retail Sales m/m

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Oils price with not reaction /Gold recover despite positive trade/political optimism/US-China phase-one deal signed

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