WTI strong on API drawdown/Gold remains bullish momentum /Forex after Christmas holidays

Dec 27,2019

Regain Capital

Overnight Reviews:

Gold: 0.85%

Silver: 0.80%

US Index: -0.06%

WTI Oil: 0.55%

NDX: 0.91%

WTI strong on API drawdown

The US crude oil benchmark stays strong on unexpected API (American Petroleum Institute) inventories decline of 7.9 million barrels, pushing the price forward to 61.8 $ levels altogether with the encouraging comments from the Chinese Foreign Minister and US President Trump, both indicating the prompt signing phase one deal has put the market in risk-on mood.

Gold remains bullish momentum

The precious metal was able to extend its gains to1,500 handle after Christmas, reaching highs from early November. The risk sentiment shifted onto the safe-haven after a dump taken by USD across the game-board, the greenback losing strength with all Forex pairs, and expected thin-trading sessions had benefited the yellow metal.

Forex after Christmas holidays

All majors market will open today Friday after the Christmas holidays, although little action is to be expected. Trade and political headlines keep the driver’s seat on the market in risk-on mode. With thin-trade sessions, not much catalyst is expected.

Main Events Today GMT +8

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WTI strong on API drawdown/Gold remains bullish momentum /Forex after Christmas holidays

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