European markets traded lower across the board Wednesday, profit taking and weakness in the leading sectors and unimpressive earnings from miners were the reason for the red day. Basic resources stocks were the worst performers on the day, pushing the FTSE down more than 1% while better than expected earnings from Kering.de busted the stock up 8%. Investor eyes will be on the ECB press conference for further insight on the markets today.
Forex & Commodities markets:
The FX markets are looking to the big news day for the Euro and Mario Draghi today. The sterling was the big mover in the FX markets Wednesday, moving higher more than 1% vs most majors on a better than expected GDP reading from the UK and reversing the trend vs the Euro ahead of today news. Oil inventories had little impact on the markets. The ECB rate decision and press conference at 1:30 pm is the important news on the agenda Thursday.
Swing trades follow up –
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