The dollar traded mostly lower versus majors after the sterling jumped more than a percent following the confidence vote for Teresa Mays leadership. Most FX markets traded in narrow ranges awaiting the ECB press conference today in the afternoon and more on the US China trade war. Global equity markets traded higher following the relief in the trade war tensions. Leading the way was the French CAC40 up more than 2%. Metals traded higher on a softer dollar and Oil traded lower following the inventories number as the drop in US Stockpiles was offset by fears that the OPEC proposed production cuts will be overwhelmed by record production levels by US shell Oil producers. Oil closed yesterday just above 51.3$ per barrel.
CHF SNB Press Conference at 10:00 am and the ECB Press Conference at 2:30 pm are the important news on the agenda Thursday.
Swing trades follow up
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