Here is what you need to know on Thursday, January 2nd :
- Early Monday, China announced a 50 basis point RRR cut, effective January 5. The decision is aimed to inject liquidity and lower costs for business. The announcement will likely boost the market’s sentiment at the opening.
- US President Trump tweeted on Tuesday that phase one of the trade deal will be signed in Washington on January 15 and that he will later head to Beijing to discuss the next phase of the arrangement.
- White House Advisor, Peter Navarro, said that the phase one trade deal is “in the bank” and being translated and that more “great deals” are coming this 2020.
- Oil prices edged lower on Tuesday, amid another Trump tweet, threatening Iran after disturbs took place at the US Embassy in Baghdad.
- Gold retained its positive stance and finished the year with gains at $1,520 a troy ounce.