European markets traded higher over better than expected comments from the ECB, earnings reports and the tax reforms in the US. All major sectors other than Autos and all bourses closed in the green, led by banks, and health care stocks. Swedish giant retailer H&M disappointed investors with a 20% drop in pre-tax profit and the stock responded with a 5% dive. The Auto sector closed in the red on weakness in VM, down more than 1.5%.
Forex & Commodities markets
The dollar index stalled after a three day rally and most of the majors traded in narrow ranges on very little volume. The surprise gainer on the day was the JPY that advances vs majors despite the positive global markets movement, GOLD and majors metals traded sideways. UK Current account at 9:30 am and CAD GDP at noon are the important news on the agenda Friday.
Swing trades follow up –
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