Daily Report December 21, 2017.
European markets traded sharply lower with all major markets and leading sectors closing the trading day in the red. The DAX led the markets lower dropping more than one percent on the day and looking to close the month in the red after a stellar year. Profit taking hit all leading sectors and the approval of the US tax bill seems now a like a sell the news event. The Basic Resources sector was the only major sector in the green, up on strength in Rio Tinto and Anglo American.
Forex & Commodities markets:
The dollar traded lower vs most majors other than the yen following the approval of the republican tax bill that had its impact already priced in the markets over the last two weeks. Metals took advantage of the softer dollar to climb across the board while OIL closed higher following the inventories number. CAD CPI and US GDP reading at 1:30 pm are the important news on the agenda Wednesday.
Swing trades follow up –
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