European markets traded higher across the board on strength from two major leading sectors, banking and energy. UK banks passed the stress test by the Bank of England sending all banking stocks higher while the upcoming OPEC meetings this week and the expectation for further production cuts sent energy stocks higher. Looking at individual stocks, RDS was UK best performer, up 4% on the day while BMW did not buck the positive trend and closed in the red, 0.86%.
Forex & Commodities markets:
The dollar index traded sharply higher reversing from two month lows vs the Euro and sending metals lower, that following the successful pitch of the new tax reforms in the US. Not even the renewed geopolitical tension with N. Korea tempered with the move. More is expected today following Chairman Yellen Senate speech. OPEC Meetings all day, US GDP, OIL Inventories and FED Chairman Yellen testimony in the afternoon are the important news on the agenda Wednesday.
Swing trades follow up –
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