GIVE MISS CALL ON :- +91 99774 99927

CAPITALSTARS – MCX COMMODITY NEWS UPDATE : 14 JANUARY 2020

10171107

MCX MORNING UPDATE

BULLION –

Bullion counter may witness further profit booking as gold fell on Tuesday, as investors opted for riskier assets after the United States dropped China’s designation as a currency manipulator ahead of an interim deal between the two sides to ease their trade dispute. Global equities rallied to reach fresh record highs as the world’s two biggest economies prepare to formalize a truce. U.S. Trade Representative Robert Lighthizer said that the Chinese translation of the deal was almost completed and would be made public on Wednesday, just prior to a signing ceremony. The U.S. Treasury on Monday said China should no longer be designated a currency manipulator in a long-delayed semi-annual currency report, reversing its August finding; the decision coincided with the arrival of a high-level Chinese delegation for a trade deal signing.

ENERGY –

Crude oil may witness remain on weaker side as oil prices edged lower on Tuesday as receding Middle East tensions took some heat out of the market, with both Tehran and Washington desisting from any further escalation after this month’s clashes. However, the declines were limited by expectations of a drawdown in U.S. crude oil inventories and optimism about the signing of a preliminary trade deal between the U.S. and China, the world’s top oil consumers. Oil prices were supported ahead of the signing at the White House on Wednesday of a Phase 1 trade deal, which marks a major step in ending a dispute that has cut global growth and dented demand for oil. Elsewhere, Saudi Arabia’s energy minister Prince Abdulaziz bin Salman said his country will work for oil market stability at a time of heightened U.S.-Iranian tension and wants to see sustainable prices and demand growth.

BASE METAL –

Base metals may trade with mixed bias. China’s central bank set the midpoint of the yuan’s daily trading band at its strongest fixing in more than five months on Tuesday after the United States dropped its designation of China as a currency manipulator. London copper prices on Tuesday slipped from an eightmonth high hit in the previous session, as cautious investors awaited a raft of Chinese data, which will indicate whether a pick-up in economic activity has been maintained. Later in the day, Beijing is due to release its December and full-year 2019 trade data, one of the major indicators of economic health of China, the world’s second-biggest economy.


Investment & Trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Leave a Reply

Checking...

Ouch! There was a server error.
Retry »

Sending message...

ASK AN EXPERT


CapitalStars FORUM