The dollar traded lower across the board versus majors losing 0.36%, its worst day in more than three weeks. Investors took to the Euro ahead of the ECB meeting this week while commodities economies gained versus the dollar on markets optimism and on some profit taking following the last week rally in the greenback. Global equity markets opened the trading week on a flat note, trading in very narrow ranges and closing near the flat line in the US & EU. Metals traded modestly higher on a weaker dollar but could not manage a substantial move due to their “safe heaven” appeal. Oil continued its path north, trading at fresh 2019 highs and five -month highs after a series of events starting with the renewed war in Libya, sanctions on Venezuela and Iran, OPEC tight supply policies and the overall positive sentiment in global markets. OIL closed up more than 2% at 64.42$ per barrel.
There is no important news on the agenda Tuesday. (all times GMT).
Swing trades follow up