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After a week dominated by geopolitics and spent calibrating risk, the coming one should be back to basics.
It was a volatile week of trading for global equities as hostility between the US and Iran left investors confused about the end-game.
Fundamentals still point to more softness ahead
Markets will be wary of any escalation in tensions.
Deeper cuts from OPEC planned for Q1
Geopolitics kick off 2020 for oil markets
November 2019 Monthly Insights
Oil 2020 outlook
Global equities closed higher
Global equities closed higher amid a partial resolution of the US-China trade war and as some clarity emerged on Brexit following the victory of the Conservatives in the UK election.
Despite positive jobs data, Donald Trumps lack of haste over a trade deal is unsettling for the markets
More cuts may not be enough to push prices significantly higher.
Recession risks continue to be priced out in the US and 2020 is likely to be a year of stabilization albeit at relatively low levels of growth in other parts of the world.
MONTHLY INSIGHTS, TOURISM
Oil markets will endure another soft year in 2020 as demand growth is beset by downside risks and supply from outside OPEC surges.
Dubai PMI eases further in December
GCC PMIs soften in December
MENA PMIs: October round-up
Dubai PMI improves in October
Dubai PMI: Slowest quarter since Q1 2016
Global equities continue to be driven by trade headlines as conflicting signals continue to emerge.
Changeable headlines on the trade war contribute to a volatile week.
In October 2019, GCC equity markets closed lower for a third consecutive month. The MSCI GCC Countries index dropped -2.7%.
IEA projects substantial growth outside of OPEC in 2020.
US President calls for negatives rates to be introduced in US.
DAILY OUTLOOK, MARKETS
Last week global equities traded on headlines amid a slew of positive reports around trade negotiations between the US and China.
Markets will focus on details of the company over the coming weeks.
Some optimism is emerging regarding Brexit and trade wars, contributing to a dialing back of risk. This is just as well as the macro environment continues to deteriorate.
Global equities closed higher as strong corporate earnings and easing of rhetoric on Brexit and trade helped investors shrug off worries over economic growth.
But demand projections continue to fade.
Markets will looking to new forecasts from the EIA, OPEC and IEA.
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