European markets closed lower with all major sectors and bourses in the red. For the week most bourses closed in the red and yesterday only OIL was the positive closing sector. Tobacco stocks took a plunge following the FDA decision to lower allowed nicotine levels. Adidas jumped 9% on a better than expected earnings and full year outlook report.
Forex & Commodities markets
The Swiss franc drama took over the dollar drama this week, marking the worst drop for the franc in 6 years, this following Jordan Thomas, SNB Chief remarks that the franc is significantly overvalued. The franc was in the red vs all majors for the 4-th day in a row. The dollar slides vs the euro continued on a weaker than expected GDP reading and OIL was green again on OPEC speculation production cuts and a weaker dollar. German retail sales at 7 am GMT is the important news on the agenda Monday morning.
Swing trades follow up –
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