The dollar and FX markets traded a narrow range lackluster session awaiting more on the US China trade talks set to resume on high level officials tomorrow. The Sterling traded lower versus majors following news that a Brexit agreement is unlikely to be achieved near term, sending the currency lower nearly 0.5%. US and EU equity markets traded lower on US China trade worries, that’s part on the NBA scandal and part on Chinese Visas restrictions, the US banning Chinese officials from entering the US on civil rights violations. Both markets lost 1% and are looking vulnerable to more downside as long as the US China trade disputes are on the table. The Fed meeting later this month can serve the markets well if it will deliver an unexpected rate cut this month and Fed Chairman Powell pointed to a balance sheet expansion in his speech yesterday, however not mentioning a timetable for it yet. Gold and Silver traded higher as expected following the weakness in global equity markets, Gold closed at $1,509 per ounce and Silver at $17.62 per ounce. Oil traded mostly sideways and closed at $52.53 per barrel, awaiting the most important Inventories numbers today in the afternoon.
Eurogroup meetings all day, Oil inventories at 2:30 pm, Fed Chairman Powell speech at 4:00 pm in Kansas City and FOMC Meeting minutes at 7:00 pm are the important news on the agenda Tuesday. (all times GMT).
|Global Markets 24 hours wrap-up|
|TRADE||ENTRY PRICE||POSITION||OPEN PROFIT||DATE TRIGGERED||STOP LOSS||UPDATES|
The sterling traded sharply lower on no-deal Brexit news, “bear flag” trade triggered.
Gold traded higher on the move to safety following the selloff in global equity markets.
Warning: The information provided on this page (“the information”) is for instructional purposes only, for enhancing your general knowledge of the capital market in general and using trading methods and the technical analysis method in particular. We hereby clarify that the company, its management, staff, shareholders and agents do not hold investment advisor licenses and/or portfolio manager licenses by any applicable law, and do not pretend to advise any person on the worthiness of buying, selling, holding or investing in securities and other financial assets. The information should not be construed to be a recommendation or opinion, and any person who makes any decision based on the information – does so entirely at their own risk. Be aware that the information cannot serve in lieu of advice which accounts for specific information and needs of an individual, and that investing in securities and financial assets may cause loss. The company, its management, staff and agents may have a personal interest in issues related to the information, and may hold specific securities mentioned in the information, or similar securities. If you use the information, you waive any claim or demand against the company or anyone acting on its behalf.