European markets traded sideways with most leading sectors trading in narrow ranges and closing the day at the flat line. The FTSE outperformed the markets after a weak start of the week yesterday while the Spanish IBEX lagged on the Catalan issues. LVMH closed higher 2.25 percent on a better than expected sales outlook while Santander was 3 percent lower on worries from the Catalan vote on separatism. Earnings season should provide more clearance for the markets in the upcoming weeks.
Forex & Commodities markets
The dollar index was sharply lower Tuesday ahead of the FOMC meeting minutes today. The dollar lost ground vs most majors after a three day rally and metals jumped on dollar weakness leaving Gold lagging due to the relative strength in the US close. OIL was sharply higher on the day on expected OPEC production cuts and ahead of the inventories number Thursday. FOMC meeting minutes at 6 pm GMT is the important news on the agenda Wednesday.
Swing trades follow up –
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