European markets traded higher closing the week on a positive note and sending the CAC40 to 10 year highs!! Most leading sectors and bourses closed in the green. The Spanish markets were the only major market to close lower on the Catalan crisis. Better than expected earnings from VW, up 4.5% on the news, lifted automakers while banks and miners were the only major sectors to close lower.
Forex & Commodities markets:
The FX markets continued the pressure on the Euro following yesterday decision by the ECB to continue the stimulus program thru 2018. Most other pairs traded sideways while the Euro was lower, at 3 month lows vs the dollar and under the 132 area vs the Yen. OIL was the big winner in the markets Friday, jumping 2.5% on expected production cuts agreed upon by OPEC, will be extended beyond March 2018. There is no important news on the agenda Monday.
Swing trades follow up –
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