Today's Commodity News : 15.11.2019
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Outlook: Bullions
The near term fundamental outlook is likely to remain influenced by the development in U.S. – China trade deal. If both countries hammers out so called “phase one” deal than prices might lost their glitter as safe haven but in case of no deal, demand for metal as alternative assets or safe haven will remain intact with taking prices to new highs. Apart from this trade deal factor, upbeat U.S. economic numbers undercut the possibilities of further rate cut which will also act as fresh headwinds for non-yielding assets like gold.
Outlook: Basemetals
Following the ongoing fundamental developments, near term sentiments are likely to remain mixed and will be largely depend on progress in U.S. – China trade deal. However, we believe outlook seems to remain faltered, not just because of any meaningful conciliation in trade deal but also on the barrage downbeat economic release from China – the biggest consumer of base metals. Moreover, ongoing political unrest in Hong Kong also cast dark clouds on sustained economic growth in region.
Outlook: Energy
Oil traders are eagerly waiting for monthly oil reports from IEA which is due to be released today. Moving ahead, development in trade deal between U.S. and China will also emerge as decisive factor to lead fresh direction to oil prices. Currently we believe prices will remain influenced by economic outcomes from U.S., the biggest consumer of crude oil, and China. However, the fear of rising oil production from U.S. on shale oil boom will probably keep sentiments suppressed.
The near term fundamental outlook is likely to remain influenced by the development in U.S. – China trade deal. If both countries hammers out so called “phase one” deal than prices might lost their glitter as safe haven but in case of no deal, demand for metal as alternative assets or safe haven will remain intact with taking prices to new highs. Apart from this trade deal factor, upbeat U.S. economic numbers undercut the possibilities of further rate cut which will also act as fresh headwinds for non-yielding assets like gold.
Outlook: Basemetals
Following the ongoing fundamental developments, near term sentiments are likely to remain mixed and will be largely depend on progress in U.S. – China trade deal. However, we believe outlook seems to remain faltered, not just because of any meaningful conciliation in trade deal but also on the barrage downbeat economic release from China – the biggest consumer of base metals. Moreover, ongoing political unrest in Hong Kong also cast dark clouds on sustained economic growth in region.
Outlook: Energy
Oil traders are eagerly waiting for monthly oil reports from IEA which is due to be released today. Moving ahead, development in trade deal between U.S. and China will also emerge as decisive factor to lead fresh direction to oil prices. Currently we believe prices will remain influenced by economic outcomes from U.S., the biggest consumer of crude oil, and China. However, the fear of rising oil production from U.S. on shale oil boom will probably keep sentiments suppressed.