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Market News Today 2019-01-28

2019-1-28 10:04 | By : Mex Group News

Market Briefing

  • The political crisis in Venezuela now appears to be reaching boiling point amid growing efforts by the opposition to unseat Mr Maduro. US National Security Adviser John Bolton has warned Venezuela that any threats against American diplomats or opposition leader Juan Guaidó will be met with "a significant response".
  • Brexit continues to shift towards a soft outcome as No Deal is priced-out.
  • While Brexit retains the ability to generate an unexpected headline or two, wrecking even the best made plans, the overall sense is that a Soft Brexit is the most likely outcome and there is now a hardened opposition against the UK leaving the EU without a deal.
  • Gold price outlook for next week is neutral as uncertainty surrounding the Fed and US-China trade deal leaves risks balanced. Gold was able to recover over the last 5 days of trading after incurring losses in the prior week. The gains in Gold this week came from Friday's nearly 1.5 percent surge in the commodity, likely attributable to weakness in the US Dollar.
  • USD may turn higher if Fed walks back its recent dovish position or markets witness further deterioration of the Eurozone's economy.
  • Any resolution or positive development over the trade war could bolster sentiment but may also push USDCNH lower if the offshore Yuan rallies.

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