EU markets traded lower across the board on Industrials and Autos sector weakness. The EXSXX600 index closed lower 0.8% as all major sectors other than financials and all bourses closed in the red. ECB President Draghi comments led to a sharp rally in the euro that didn’t support the markets which closed at their lows. ECB President Draghi speech is the important news on the agenda Wednesday at 2:30 GMT then OIL Inventories at 3:30 GMT.
Earnings on the agenda Wednesday morning:
Forex & Commodities markets
The FX markets reacted to ECB President Draghi comments that the ECB could change its sub-zero interest rate policy, sending the Euro sharply higher vs all majors, leading the Euro to new highs for the year vs the dollar and JPY. OIL was also a winner yesterday, moving on dollar weakness ahead of the inventories number today. ECB President Draghi speech is the important news on the agenda Wednesday at 2:30 GMT then OIL Inventories at 3:30 GMT.
Swing trades follow up –
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