European markets traded higher behind a rally in the DAX that now stands at all time highs, at the 13,500 level. Better than expected sales results and an upgrade sent VW up 4.8% and all major car manufacturers followed closing sharply higher. China upbeat data was behind the move up in miners while retail stocks lagged after NEXT took a 9% dive on a disappointing sales outlook.
Forex & Commodities markets:
The dollar index closed higher yet the FOMC meeting didn’t move the markets after the FED decided to stay put with its rate. Metals closed sharply higher on upbeat China data and OIL reversed lower on a higher than expected inventories number. UK construction PMI at 9:30 am then at noon, the BOE Official Bank rate and policy statement are the important news on the agenda Thursday.
Swing trades follow up –
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