October 24, 2018. The dollar traded mostly sideways versus majors as FX markets ignored the wave of selloff in global equity markets to trade a lackluster eventless session. Global equity markets traded sharply lower yesterday yet markets led by US technology stocks staged a 2% comeback late in the session. EU markets are trading now at post Brexit prices, losing 20 months of gains as investors fear rises on Italian budget woes on news that the EU has rejected the Italian proposed budget. Metals traded sharply higher on a softer dollar and a run to safety while Oil took a 4% dive, its biggest in 4 months on demand fears and Saudi Arabia commitment to meet outputs, closing at 66.12$ per barrel, at 8 week lows.
CAD BOC rate statement at 3 pm and Oil Inventories at 3:30 pm are the important news on the agenda Wednesday.
Swing trades follow up –
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