Stephen Innes, Asia-Pacific Market Strategist, AxiTrader

31-Dec-19 07:00

Crude Oil prices are near 3-month highs with Brent crude spot prices at USD68 per barrel. So with increasing U.S domestic production but continued OPEC commitment to curb supply, how will oil trade in the short term.

On a similar note, gold prices were up 18% this year, supported by its safe haven status in times of global geopolitical risk.

However with risk appearing to recede and interest rates in pause mode, will that status still carry in 2020?

Also, U.S equities look to continue their rally in 2020 as fears of a recession continue to recede. Should we share this view or could it be time to be contrarian and take a risk-off approach?