The dollar traded mostly sideways, opening the trading week on a flat note as investors look ahead to the FOMC meeting on Wednesday, BOJ rate decision on Thursday and NFP payrolls for October on Friday. Most FX markets traded a typical Monday session, on lower volumes and very little price action. US markets opened the trading week at fresh all-time highs, the Nasdaq and S&P500 both traded to record levels while EU markets are trading at 14-month highs as well. Metals traded mostly sideways and lower on the flat dollar and the move away from safety, Gold closed at $1,494 per ounce and Silver at $17.65 per ounce, both marginally lower on the day. Oil traded sharply lower in the afternoon session, that’s on a forecasted increase in US crude inventories by about 700,000 barrels, according to a Reuters poll. Oil closed lower 1.52% at $55.8 per barrel, the first daily close in the red after 4 strong green days.
US CB Consumer Confidence at 3:00 pm is the important news on the agenda Tuesday. (all times GMT).
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Nasdaq traded yesterday at fresh all-time highs on US China trade optimism and ahead of the FOMC meeting on Wednesday.
Oil trades lower after 4 strong days in the green on projected increased US stockpiles.
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