Gold retreated as risk appetite rose
2019-01-09 01:37 pm | Resource: News | No Views : 69
Gold prices fell on Wednesday and the partial closure of the US government continues, and the US president called in a televised speech from Congress to provide billions to finance the border wall with Mexico.
Asian stocks followed Wall Street higher and European markets extended gains from the previous session after US President Donald Trump Twitter, "talks with China are going well!".
Wall Street rise in the medium term is a wave of optimism
US stocks were trading in the green zone in primary markets on Wednesday as positive signs boosted risk appetite in the markets. According to a report by Hu Shijin, president of Global Times, Beijing and Washington are due to issue a joint statement from the latest round of negotiations tomorrow.
The easing of trade tensions between the United States and China, and cautious US Federal Reserve statements, have also improved investor appetite for risk. With the US-China trade talks entering for a third day, there is speculation that a trade deal could be reached ahead of the deadline set by Trump and Chinese President Xi Jinping on March 1 at the G20 summit in Argentina.
- The Dow Jones Industrial Average rose 0.31% in the primary market on Wednesday.
- The Nasdaq 100 rose 0.36%.
- While the Standard & Poor's 500 Index rose 0.22%.
The euro rose 0.9% against the US dollar and 1.1449 as the dollar index fell against a basket of currencies amid expectations of a suspension of interest rate increases by the Federal Reserve amid expectations of slower growth abroad.
The World Bank lowered its forecast for global economic growth to 2.9 percent this year from 3 percent in 2018, citing many negative risks.
"The outlook for the global economy has narrowed, global funding conditions have tightened, industrial production has shrunk, trade tensions have been strained, and some major economies and developing economies have seen considerable pressure on financial markets," the bank said.
(CURDE OIL - WTI ) Time frame Used - four hours Oil is moving in a sideway direction in the near term. Oil is still facing resistance and selling pressure around the 52.50 - 53.37 levels, but is still consolidating at a high of 50.33. In view of the technical indicators Both the RSI and Stochastic are indicating to decline of the indicators. Therefore, we expect that the oil…
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