Great Britain and the pound show their strength

By 05/12/2019News
Morning Stock News

Gold   1477,32
(+0,20%)

EURUSD   1,1082
(+0,04%)

DJIA   27658,50
(+0,05%)

OIL.WTI  58,14
(-0,31%)

DAX   13156,72
(+ 0,01%)

So far, investors have no idea how to celebrate the New Year. Too much contradictory information comes from news sources. Because of the statements of any important decision-maker, markets can turn in the opposite direction at any time, as shown by the Wednesday.

GBP/USD Day Chart

GBP-USD Tages-Chart

The pound sterling went off to a 7-month high on Wednesday. Did Boris Johnson’s program succeed? In most cases, the UK market is now under political control. Only confidence in the near future and the correct Brexit will give the pound an opportunity to strengthen its position in the market.

OIL

Just the day before the OPEC meeting, oil was growing by more than 4% a day. So the data on the reduction of oil reserves in the U.S., or traders got some important insight into the upcoming conference to reduce oil production. Brent is growing fast on Wednesday and trades at weekly highs of $63.16 per barrel.

GOLD

The gold market is beginning to recover due to good demand for precious metal from India. Although the price of gold has moved slightly away from its four-week high on Wednesday, it still remains at high levels. Gold is traded at $1473 per ounce on Wednesday.

INDICES

On Wednesday, key US indices show very strong positive dynamics. The good news about the negotiations between the US and China once again fills investors with optimism. Despite signs of tension, the U.S. and China are doing everything possible to resolve the trade deal problems by November 15, when new sanctions against China will come into effect.

What will happen today?

01.30 – Retail sales volume in Australia.
16.00 – Canadian Business Activity Index


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