The dollar traded mostly sideways and lower and the abundance of economic news had little impact on global FX markets yesterday. The core CPI number came in lower than expected and the dovish FOMC meeting minutes left no one hopping to see another rate increase in 2019, sending a dovish message towards dollars future near term. Global equity markets traded another lackluster session ahead of the opening of earnings season today in the US with big financial stocks in the spotlight. Metals traded higher on a weaker dollar and Gold closed above the 1308$ per ounce level, up 4 days in a row this week. Oil inventories came higher than expected reaching 17 months highs, putting pressure on Oil prices. US crude oil producers turned another record output of 12.2 million barrels per day, making US the biggest producer ahead of Russia and Saudi Arabia. Oil closed at 64.35$ per barrel yesterday.
US PPI at 1:30 pm is the important news on the agenda Thursday. (all times GMT).
Swing trades follow up