The dollar traded mostly sideways as investors look into the upcoming CPI number today in the afternoon for clues on dollar future path and ahead of the ECB meeting tomorrow. Most FX markets traded in narrow ranges leaving volatility to the equities markets where futures traded sharply higher in the morning, then turned negative and closed flat then turned again positive overnight on positive trade news coming out of China. EU equity markets reversed higher from 24 month lows as investors look to the upcoming ECB meeting for clues on EU economies path near term. Oil traded higher ahead of the inventories number today in the afternoon and metals traded mostly sideways with no major market moving news on the agenda.
US CPI at 1:30 pm and Oil Inventories at 3:30 pm are the important news on the agenda Wednesday.
Swing trades follow up
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