The dollar traded sharply lower versus majors as investor fear a slowdown in the US and lower than expected US growth from one hand and the rise in risks on the other, sending the safe heavens, JPY and CHF sharply higher. The FED decision to move to a projected 2 interest rate increases next year was not a pro dollar one, Sending the greenback to 4 week lows versus majors. Metals traded sharply higher on a weaker dollar while the global rout in the equities markets added to the move. NASDAQ stocks lead the way lower for equities, trading at 14 month lows and reaching a 20% correction, aka “Bear Market”. OIL closed at 17 month lows after another selloff day as investors fear on a global slowdown intensify and no buyers came to the risqué despite fresh 2018 record lows close of 46.12$ per barrel.
UK Retail Sales at 9:30 am and the BOE Rate Decision at 1:00 pm are the important news on the agenda Thursday.
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