The dollar traded mostly lower versus majors giving back some of the major gains following the better the expected US jobs numbers posted on NFP Friday morning. Most FX markets traded a typical Monday session, trading on very low volumes, narrow ranges and most of all expecting the array of major importance news set to come out this week: The FOMC on Wednesday, UK Election on Thursday and the ECB rate decision on Thursday as well. On top of that the deadline of DEC 15 tariffs looms for the US China trade agreement. More stalemate is expected today, with no major news expected on the agenda. Global markets traded lower from 2019 highs yesterday, the US markets lost 0.32% and EU markets 0.55%. Metals traded marginally lower on the day, Gold closed at $1,465 per ounce and Silver at $16.88 per ounce. Oil closed the trading day 1% higher, at $59.06 per barrel, that’s on expectation that OPEC+ production cuts deal will go thru, expecting to cut 1.7% of global production until mid-2020.
UK GDP and Manufacturing Production at 9:30 am and EUR ZEW Economic Sentiment at 10:00 am are the important news on the agenda Tuesday. (all times GMT).
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NASDAQ futures traded lower from all time highs yesterday as markets await the FOMC meeting outcome tomorrow.
Gold trades higher from support following the big selloff Friday.
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