Market Commentary Before Christmas

A: Welcome to this week's market commentary with RockGlobal. It's the Christmas edition and we'll start with the US markets. We've seen Ricardo. Hi, there. If you could give us a quick rundown on that.

R: Yes, the market seems to be pushing up higher and higher. Although towards the close of the trading session the markets raised a little bit, don't forget the trade accord that the US-China trade war, which was announced last Friday, has not been signed yet, and right now there's an impeachment vote is going on so all the buyers or investors are still looking for reasons to be buying into the market.  But with this negative overhang, anything can happen. Especially, don't forget Friday will be a quadruple witching hour and the US GDP is coming out so I think, yeah, they are expecting a Santa rally this month in December. But we have to take into account Santa might be looking out for those naughty boys like trump, if you will be doing something that's bad, we might see the markets come off again or have a correction. So that's what's going to happen with the US stock market.

A: Correct, I mean, this still seems to be a bit of uncertainty in the market, and that is represented in the gold market. We have seen since mid-November, a sideways trend from around 1450 to 1480. We're currently in the upper ranges but obviously still indicates that there's a bit of uncertainty in the market. So as Ricardo said, the US-China phase one deal is not certain yet, there's still a lot of disagreements, so we have to see how their hands out. Kiwi Dollars ends up by over 3% since September so that's obviously risk on. so it's kind of a Twilight Zone at the moment. We see record highs, gold as well, relatively out but still going sideways. It really comes down.

R: Don't forget gold ends drop quite a bit

A: Yeah, and the pound is lower. We also have the US consumer of the optimism growing over the last three months. And the interesting fact here is that the only two countries where the US, sorry, consumer optimism has come up the US and Highbury worldwide consumer optimism are down as well so maybe the U.S. is doing quite well but maybe the global outlook is a bit less solid maybe or but yeah that's I think everything from us.

R: Bitcoin, probably, we have to discuss because of what's happening on the cryptocurrencies. Don't forget that last token Ponzi's scam. Right? So, there are twenty thousand stolen bitcoins, that's out there that they have been trying to do sell among the different exchanges so that brought down the Bitcoin all the way down to six thousand six hundred. Although it bounced today to about seventy-one fifty thereabouts, yeah, so I think there will be a lot of activity on the crypto scene as well.

A: It looks like we are meet a breakout that perhaps in December or later January between now and then, but yeah, that's everything from us. We wish you happy yeah.

R: Yeah, we wish you a very happy Christmas, and yeah, have a festival season from all of us here at Rockfort. See you next time.