Oil continued rallying /Gold holds onto daily gains /Cable getting punched by Brexit again

Dec 20,2019

Regain Capital

Overnight Reviews:

Gold: 0.24%

Silver: 0.29%

US Index: 0.01%

WTI Oil: 0.44%

NDX: 0.65%

Oil continued rallying

Crude oil trade positive sentiment continues unstoppable, six days in a row registering new highs, where US-Iran tussle and OPEC+ supply cut keep the black commodity bulls happy. Besides, the followed US inventories declines reported this week along with the US-China phase one has pushed the crude oil towards the best December since 2002.

Gold holds onto daily gains

The yellow metal remains the sturdy holder this week, yesterday on the early trading session was forming a bearish pin bar only to appreciate around late mid-US afternoon despite the great day for Wall Street rallying to record highs. This delayed gain is attributed to mixed trade and Brexit headlines hovering the market.

Cable getting punched by Brexit again

The British pound plummeted amid the latest unclear headlines about Brexit with the UK Retail Sales missing market expectations. Today the UK PM Johnson will introduce his WAB (Withdrawal Agreement Bill) to the House of Commons with high hope to pass after last week’s victory.

Main Events Today GMT +8

17:30 GBP Current Account

21:30 CAD Core Retail Sales m/m

22:30 GBP Parliament Brexit Vote

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Oil continued rallying /Gold holds onto daily gains /Cable getting punched by Brexit again

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