European markets traded sideways with most leading sectors trading in narrow ranges and closing the day at the flat line for the third day this week. The relief in the Catalan tension did little for the EU markets yet the IBEX was up 1.2% on the day. Basic materials stocks lagged the markets moving more than one percent lower while all other major sectors closed flat.
Forex & Commodities markets
The dollar index was lower following the release of the FOMS statement meeting minutes that revealed an uncertain path to future increases in the Fed rate, leaving in close check with inflation readings. The dollar was lower across the board while metals moved mostly sideways and OIL was up ahead of the inventories number today in the afternoon. US PPI at 1:30 pm GMT, ECB President Draghi speech at 2:30 and OIL inventories at 3 pm are the important news on the agenda Thursday.
Swing trades follow up –
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