Theresa May wins the leadership vote

Daily Analysis - 13/12/2018

Theresa May going to Brussels again

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British Prime Minister Theresa May after a successful leadership vote that gives her the power to stay in command will now try to find supporters for her popular Brexit agreement from European lawgivers today.

The Prime Minister will go to the European Council conference where she she’ll attempt to find resolutions to the Irish backstop matter. The determining factor will be whether Northern Ireland will continue to be in a European-wide rules union till a full trade agreement is achieved. The Prime minister is under pressure from pro-Brexit followers concerned about the backstop.

Gold edges lower while greenback gained momentum


On Thursday Gold prices fell while the popular greenback gained momentum and stocks rose on indications that the tensions between the United States and China are going to soften. The dollar index, that gauges the USD versus six major opponents, was steady at about 97.067, after withdrawing from a near 30 day high. As for the popular spot gold, it went down about 0.2% to $1,243.90 per ounce, while U.S. gold futures moved 0.1% lower at $1,249.1 per ounce.

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Oil prices rose due to US-China trade tensions


Today we saw oil prices rising due to signs that China is taking significant actions to achieve a trade war peace with the U.S and also due to a fall in U.S. crude stockpiles. The famous U.S. West Texas Intermediate crude futures were at about $51.30 per barrel, which is about 0.5%.

OPEC-led supply cuts published last week while the International Brent crude oil futures remained around $60.46 per barrel showing a 31 cents increase from their last conclusion.

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Asia markets ended higher


On Thursday Asian equities ended higher, while China was the leader of the session after the positive energy we witness on Wall Street last night.

The Topix index closed about 0.6% higher at 1,616.60 points. In Japan, the Nikkei 225 climbed about 1% and finished the trading session at 21,816.18 points. The Kospi in South Korea, went up also about 0.60 to 2,095.53 points. Now according to a note from an analyst at Mizuho Bank "Calm has finally returned to markets," Meanwhile Australian Equities noted moderately decent profits. The ASX 200 index closed the session at 5,661.5 points and that's about up 0.15%.

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