European markets traded sharply lower on Friday, closing the worst week of the year down an average 2.5% – making it the worst week for 2017. The geopolitical N. Korea tension, weak earnings and zero positive triggers sent all markets lower. All major sectors led by OIL and gas and Basic resources closed in the red, the Basic resources sector was down 2.7% on the day. The EU markets now trade at 5 month lows, well below the French Election gap in April.
Forex & Commodities markets
The FX markets traded mostly sideways despite the Korean geopolitical tension, with the dollar index lower on the day and the Euro moving higher vs all majors. Metals were positive the fourth day in a row this week, Gold gained 35$ and is closing again on the 1300$ level reached 10 weeks ago, after a 2% gain on the week. There is no important news on the agenda Monday.
Swing trades follow up –
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