GOLD Gold is edging higher, continuing the rebound started after the quick crash that brought the price close to the support zone of $1,800. Investors are awaiting further news about the new US government's planned stimulus as this could be another supportive element for bullion, in conjunction with the weakening of the dollar seen in…
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OIL Fears over the new variants of Covid-19 have caused the trading week to get off to a weak start. Indices are showing some moderate declines amid a more risk off stance. This, of course, is not the best scenario for oil, which started the European trading session showing a fractional decline after the fall…
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OIL No news is good news: this old motto describes the current situation on financial markets. Despite tragic figures coming from Covid-19, markets are set in a bullish limbo with the main environment firmly risk on. In this scenario, oil benchmarks are consolidating after the recent gains, which pulled up prices to their highest level since…
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OIL Oil is continuing its recovery, with WTI getting closer to $53. The modest decline seen in early trading yesterday was just a temporary break and the barrel remains in a supportive scenario. Investors are betting on the continued recovery of global demand over the next few months after a difficult 2020. The cuts announced…
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OIL AND GOLD The week has started with some recovery signals from the greenback, while stock markets are taking a small pause after the recent rallies. The main scenario remains positive (we could say “risk on”), but we are seeing some investors taking profit. All this is reflected on the prices of gold and oil.…
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OIL The demonstrations seen in Washington had little impact on the oil price, generating a quick fall to $49.50 for the WTI benchmark, which was easily absorbed by the markets. The price has since jumped strongly back above $50 and in the first few hours this morning continued the recovery, reaching $51 while Brent is…
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OIL The oil price is rebounding on the unexpected outcome of the OPEC+ meeting. The real surprise was Saudi Arabia announcing a voluntary cut of 1 million barrels a day that will be put in place over the next two months. The market reaction showed enthusiasm for the decision, with oil jumping by 5% to…
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OIL Stocks futures have started the week in green amid new hope for a Brexit deal and oil is taking advantage of this situation. Moreover, Asian oil demand has recovered quite quickly, and there are expectations for this trend to continue into the US and Europe over the next few months. In this scenario, Brent…
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What to watch US consumer sentiment data: On Friday, preliminary consumer sentiment data for December will be released by the University of Michigan. The index came in at 76.9 for November, and consensus expectations for December are a small decline to 76.5. The US economy is heavily dependent on consumer spending, which accounts for 70%…
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What to watch Adobe: Software firm Adobe has added almost 50% to its share price in 2020, and has held up over the past three months while some tech names have faltered. The firm delivers its latest set of quarterly earnings on Thursday, where analysts are anticipating an earnings per share figure of $2.66. Key…
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