The dollar traded lower versus majors, reversing the strong move from yesterday as investors switch to the JPY and CHF in wake of another volatile session in global equity markets. FX markets trade very light volumes around the Christmas vacation, this year the markets are volatile and big intraday swings show very little continuation patterns. Global equity markets traded sharply lower during the EU and Early US sessions then reversed sharply in the US to close positive. Metals traded higher on a weaker dollar and Oil will be in focus today as the department of Energy will release the inventories data. Oil closed lower yesterday at 45.4$ per barrel following a flat session.
US Oil Inventories at 4 pm is the important news on the agenda Friday.
Swing trades follow up
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