The dollar traded higher yesterday after another pullback in the Sterling following UK PM Boris Johnson call for a UK election and fears that the Brexit ongoing 3-year saga may drift deep into 2020. The sterling is down 1.25% this week versus the greenback, leading to a 0.44% gain for the dollar index this week. Most other FX markets traded a lackluster session, the ECB left monetary policy unchanged as expected, shifting the focus of FX investors to the FED meeting next Wednesday and BOJ meeting on October 31. Global equity markets traded mostly in positive territory, EU markets closed up 0.4% and looking at a stellar month so far, up 3% while US equity markets traded a narrow range session and closed flat. Metals traded higher as investors switch back to safety, Gold closed at $1,504 and Silver at $17.83 per ounce. Oil traded higher on a surprise decrease of US inventories and a positive reaction to OPEC+ efforts to stabilize production levels. Oil closed up 0.9%, at $56.13 per barrel, up 5% over the last three trading days.
German ZEW economic sentiment at 11:30 am is the important news on the agenda Friday. (all times GMT).
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Nasdaq futures lower overnight on Amazon disappointing earnings report.
Oil prices are higher 5% this week on lower US Inventories and OPEC+ production cuts.
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