The dollar traded mostly higher versus majors as investors focus turns this week to the upcoming ECB meeting tomorrow. “Save heavens” currencies continued lower yesterday as investors move out of the JPY and CHF looking for riskier assets as the US China trade talks seem on the right path and will resume next month. US equity markets traded a mixed session after some profit taking in technology stocks while EU equity markets traded higher in expectation of a dovish ECB, which is set to meet for the forward policy and rate decision tomorrow. Metals traded mostly sideways, higher in the early session and lower during the late session, Gold closing at $1,487 per ounce, lower for the fourth day in a row. Oil pulled back after a strong four day run, closing at $57.87 per barrel on a pullback following expectations of a lesser degree of sanctions on Iranian oil, following the departure of John Bolton, an avid anti-Iranian voice in the Trump administration.
US PPI at 1:30 pm and Oil Inventories at 2:30 pm are the important news on the agenda Wednesday. (all times GMT).
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Oil short idea ahead of the inventories numbers today in the afternoon.
Gold higher this morning, support level at $1,480.
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