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Market Update – Gold Risk Currencies retreat Oil Jumps, raft of data due tonight

jeffriess
November 22, 2019
by Joseph Jeffriess, Market Analyst

Article Recap

Trade news had mixed effects overnight on risk markets, the USD made a late fightback, risk currencies and gold lower. Oil jumped hitting new 2-month highs. Preview of tonight's key data.

USD stages fightback knocking risk and Gold lower, Oil surges.

Overnight trade updates where on a slightly more positive note but this failed to lift US sticks as they closed with small losses. The USD made a strong comeback to risk cutting down rallies on the AUD, EUR and GBP. Gold was another hit by trade and the USD falling by 0.71%.

Oil jumped overnight adding 2.75%, trade talks and longer OPEC cuts boosting buying for a second day. Oil has surged by 5.05% in the last two sessions! The BOC noted that monetary policy was stable; this helped the CAD snap a two-day rally from the USD.

This morning local shares have started stronger the ASX +0.43% the Nikkei +0.26%, risk currencies are also trading higher at this stage in the Asian session. The AUD, EUR and GBP are tracking higher while gold has stared the session flat.

Tonight from 7:15 pm we have a raft of high impact manufacturing and services data coming out from Europe, UK and the US. In today’s update video, we go over this data and take a look at the main moves from overnight, taking a look at the daily currency, gold and oil charts.

Good trading from Eightcap.
All times are AEDT.