European markets traded sharply lower for the first time in more than two months as profit taking hit all sectors other than banking stocks. The Retail sector was weak across the board as Adidas and Burberry plummeted on disappointing earnings. The basic resources sector was also down 2.5% and industrial stocks were lower after a 3% move lower in Siemens. The DAX closed lower more than 250 points for the first time in five months.
Forex & Commodities markets:
The dollar index lower Thursday yet most markets closed the day near the flat line with no major news on the agenda. The JPY was stronger across the board on the weakness in the global equity markets while Gold moved higher to close above the 1285$ per ounce level. UK manufacturing at 9:30 am is the important news on the agenda Friday.
Swing trades follow up –
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