The dollar traded mostly sideways for the second day in a row as investors look for clues on near term markets direction and not finding much track to go for either way. FX markets traded another lackluster session on very little news as did global equity markets in the EU and US, trading mostly sideways on exceptionally narrow trading ranges and very little volatility. Metals took a hit as investors took the swift and uncalled for gains this week of the table, Gold sold off more than 20$ from 1347$ per ounce 10 month highs as well as Silver than experienced a 2% plus crash. Oil traded lower on profit taking and record US shell production of 12 million bpd that threatens to undermine OPECs production cuts to tighten supplies, closing at 56.85$ per barrel, the first red day after ten consecutive trading days in the green.
CAD Retail Sales at 1:30 pm and ECB president Draghi speech at 3:30 pm are the important news on the agenda Friday.
Swing trades follow up
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