European markets traded mostly sideways in narrow ranges. Most bourses closed in the red, while the DAX managed to squeeze a positive close mainly on strength from the Autos sector, the best performing major sector, up 0.9% on the day. N. Korean tension and overall profit taking sentiment in the US markets weighted on the trading day as investors had mainly negative news to digest. European investors now brace for the ECB rate decision tomorrow at noon.
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Forex & Commodities markets
The dollar was again under pressure Tuesday as the renewed N. Korean tension and remarks from FED governor Brainard that US inflation is in check, send the dollar lower vs all majors. Gold moved higher on dollar weakness while OIL was yesterday best performer on renewed talks between Russia and Saudi Arabia on capacity output quotas. BOC rate statement at 2 pm GMT is the important news on the agenda Wednesday.
Swing trades follow up –
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