The dollar traded mostly sideways and most FX markets traded a narrow range eventless trading session ahead of FED Chairman Powell senate testimony today in the afternoon. The positive news on the US China trade agreement failed to impress the FX markets while global equity markets traded higher, then the markets turned lower yet managed a marginally positive close across the globe. Metals traded mostly sideways while Oil turned out to be the biggest mover yesterday, taking a 3% loss after comments from US President Trump, accusing OPEC of trying to pump up oil prices. Oil has its biggest pullback in two months closing at 55.43$ per barrel on the news.
UK Inflation hearings at 10:00 am, Fed Chairman Powell Senate testimony at 2:45 pm and US CB Consumer Confidence at 3:00 pm are the important news on the agenda Tuesday.
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