A glance at overnight markets

28 December, 2015

Key Quotes:

"After rallying last week, oil prices are off 2%, base and precious metals lower. No end to the political uncertainty in Spain, but Spanish 10-year bonds are matching regional performance. 

Equities have a heavier bias. Asian shares were mixed. 

The Nikkei rose 0.6% while the Shanghai Composite fell 2.6%. Reports suggest that the anticipation of the end of the sales ban on large investors and a new IPO regime, weighed on Chinese sentiment. This is the biggest decline in a month for Chinese shares. Weak industrial profits, especially among state-owned enterprises (-9.5%) also took a toll. 

"The US dollar is mixed. European currencies are a little firmer while the dollar-bloc is softer. 

Last week, the dollar eased against the Chinese yuan every day on a closing basis, but bounced back smartly today after the PBOC fixed it higher. The close (CNY6.4873) represents a new four-year high. "


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Gold eases from near 2-week tops

The global flight to safety continues to fuel the ongoing positive move. A goodish pickup in the US bond yields now seemed to cap further gains...

Gold stuck in tight range above $1290

Upbeat sentiment weighs on the precious metal. US Dollar Index retreats to 97 area. Coming up: ADP private sector employment and non-manufacturing...

GBP/USD drops sharply to 1.3080

Increased odds of no-deal Brexit, USD rebound knocks-off GBP/USD. All eyes remain on Brexit headlines, US macro data and EU Summit...


Gold rebounds from 200-hour SMA

The precious metal stalled its overnight sharp retracement slide from 1-1/2 week tops and managed to find decent support/regain positive traction...

Dollar retreats farther from year tops

Fed rate hike uncertainty kept the USD bulls on the defensive at the start of a new trading week. Global growth concerns underpin safe-haven demand...

Gold remains vulnerable

On Tuesday, the precious metal faced rejection near a short-term descending trend-line, extending from over three-month tops set in October through highs...


Gold trades with gains, around $1215

A subdued USD demand helps build on this week's rebound. Improving risk sentiment does little to prompt fresh selling. US-China trade optimism/Fed rate hike...

WTI vulnerable, but holds $ 66

Bearish API report, Saudi's pledge and stronger US weigh down on oil. Attention turns towards EIA crude stocks data for fresh impetus to the oil markets...

Gold holds steady below 2 month highs

Rising diplomatic tensions continue to underpin safe-haven demand. Subdued USD price-action remains supportive of a mildly positive tone. A modest...

  


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