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