European markets traded lower across the board for the fourth day in a row, with all leading markets and major sectors closing in the red. Weak overnight China data was the trigger for a selloff in commodities and energy stocks. The mining stocks was the worst performing sector on the day, down more than two percent and the markets lacked any positive leadership to recoup losses despite a positive US session.
Forex & Commodities markets:
The dollar index traded sharply lower vs most majors and higher vs emerging economies as FX markets reacted to weak China data as the markets moved for the first time after two weeks of choppiness. OIL took a two percent dive closing under 56$ per barrel while Gold was higher on global markets weakness. UK Earnings at 9:30 then US CPI and OIL inventories in the afternoon are the important news on the agenda Wednesday.
Swing trades follow up –
|Trade||Entry price||Position||Open profit||Date triggered||Stop loss||Remarks today|
|Societe General.fr||46.24||300||840||3/10||44.93||Stopped out|