The dollar traded sideways versus major and closed Friday standing and 2-year highs, closing the week higher versus the sterling and euro alike. Most FX markets traded a flat session ahead of major early October news coming out this week, US Employment and AUD RBA rate decision. US equity markets traded sharply lower Friday then reversed higher into the close on a Blumberg report that said the Trump administration is considering restrictions of US investments in China. Although the report was shrugged by the White House, it created increased tensions in global equity markets. Metals continued to lose ground Friday on the stronger dollar, Gold traded lower towards the multi month $1,480 support level, closing at $1,487 per ounce and Silver closed at $17.17 per ounce, down 7% from week highs. Oil traded another choppy session, closing lower for the 7th day in a row, at $56.02 per barrel, that’s on global slowdown fears and Saudi Arabia making up for the lost production levels on the infrastructure attacks faster than expected.
UK Current Account at 9:30 am and US Chicago PMI at 2:45 pm are the important news on the agenda Monday, (all times GMT).
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NASDAQ low risk long trade idea after pullback Friday.
Gold long trade idea from multi week $1,480 support level.
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