European markets closed lower with all major sectors and all leading bourses closing the trading day in the red. Basic resources stocks led the UK markets lower on Rio Tinto earnings miss while disappointing results from Societe General had a negative impact on the European financial sector. The banking giant dropped 4% on the day. Strength in the Euro also was a negative for the markets Wednesday.
Forex & Commodities markets
The FX markets moved mostly sideways ahead of the BOE decision rate today and NFP important number tomorrow. The CHF was again a loser on the day, lower five out of the last six trading days vs the Euro and losing 6.5% over the period. Metals moved mostly sideways, Gold was lower ahead of the big news day tomorrow. UK services PMI at 9:30 am and BOE interest rate decision at noon are the important news on the agenda Thursday.
Swing trades follow up –
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