ORBEX: WTI, GOLD: China Wants US to Roll Back Sept's Tariffs!
In today’s #marketinsights video recording, I talk about #crude #oil and #gold.
Flows seem to have been affecting the two assets in different ways; potential oil production cuts were somewhat offset with #tradear narratives as China is asking the US to roll back September's tariffs, and gold slid lower on the back of a stronger dollar owed to positive #ISM data and weaker majors such as the #euro and #pound.
From a technical perspective, #wti's correction seems exhausted, whereas #xauusd's slide could have either ended (or ending currently) or we might see another downside leg to complete minor 4 lower.
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice
Flows seem to have been affecting the two assets in different ways; potential oil production cuts were somewhat offset with #tradear narratives as China is asking the US to roll back September's tariffs, and gold slid lower on the back of a stronger dollar owed to positive #ISM data and weaker majors such as the #euro and #pound.
From a technical perspective, #wti's correction seems exhausted, whereas #xauusd's slide could have either ended (or ending currently) or we might see another downside leg to complete minor 4 lower.
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice
