Ending 2019, Markets Remain Calm, Gold Rise

Ending 2019, Markets Remain Calm, Gold Rise

This week there will be just a couple, not all that significant financial indicators, since trading is shortened because of the Christmas holidays, and the holiday hangover won’t clear up until the second week of January.

Fully expecting the year’s end, we hope to see profit-taking in American stocks after their sharp increase over the previous month. Gold and silver appear as though they are going to consolidate if the bulls bolster the most recent breakout endeavor. In FX, sterling keeps on plunging following Prime Minister Boris Johnson’s choice not to broaden the Brexit progress. Financial specialists are thinking about whether the UK can even now leave the EU without an arrangement toward the finish of 2020, given that it will take just 11 months to make the arrangement. The move quickened before because of technical selling after the key level of $ 1.30 got broken. This level will be vital to pushing ahead, while beneath it the easiest course of action will stay at the base.

Regardless, here is the fundamental information for the following couple of days:
Friday the 27th – this will be the main entire day of trading after Christmas.

Japan will begin work with the release of industrial production, retail sales and consumer price index Tokyo Core. The only notable data output for this day will be a report on US crude oil inventories.

The new week starts on Monday, December 30th. This will be the exit of 2019, and after Tuesday – the first days of 2020. New Year will fall on Wednesday, that is, markets will be closed.

Monday, December 30th – scanty European data publications, such as Retail Sales in Germany and the PM Index in Chicago, pending home sales, USA.

Tuesday, December 31 – The index of business activity in the manufacturing sector of China (PMI) and some data on the United States, including the Central Bank consumer confidence index.

Gold Defies Wider Risk, Rising on Christmas Eve
Trading gains for the precious metal resulted from the fact that the benchmarks of the US stock indices, which, as a rule, are moving in the opposite direction to gold prices, broke the latest records – as a rule, as a reflection of a strong appetite for assets that are perceived as risky and unlike from those considered as safe-haven.

Gold futures settled above $ 1,500 an ounce for the first time in seven weeks on Tuesday, as bets on defensive positions ahead of Christmas break on Wednesday sparked a surge in demand for precious metals. Despite the wider risk in the market, gold maintains its bullish trend.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.