Market Snapshot – Markets Recover But Remain on Edge

The panic in the markets seemed to take a break over the last 24 hours or so as the political troubles for Trump seemed to recede a bit. The market is not yet fully convinced about this though and still there is some part of the market that thinks that Trump may be on his way out of the Oval office. But for now, the dollar is clearly under pressure and this has helped other currencies like the euro to push against the dollar on to new highs.

Stock Markets Rally As Fears Recede

As a reflection of the slight relief gained by Trump, from his political troubles, the stock markets in the US and around the world managed to bounce back a bit on the back of the relief rally. The investors have also got some time to re-evaluate the risks and the repercussions of the actions from the political turmoil as they did not get an opportunity, over the last few days, for a re-think. The troubles have not yet gone far off and it is likely to return anytime and that has kept the investors edgy.

Oil Prices Continue to Receive a Boost

Oil prices continued to remain buoyant as they have been ever since the beginning of the week. There has been some positive news for the oil bulls in the form of reports of the production cut deal being extended towards next year as well, though there has not been any official confirmation as yet. Also, the inventory and production data also have shown a fall over the last few days which has again been able to bring some cheer into the markets.

Gold Prices Correct Lower

Gold prices corrected below 1250 during the course of the day yesterday as the reduction in the global fears and risks helped to bring in some confidence for the investors to push in more funds into the stock markets. This would mean that the funds were drawn out of gold and this led to the correction lower in the gold markets.