The dollar and most FX markets traded another narrow range lackluster session, as investors are on the sidelines for a various set of reasons, the upcoming US China trade talks today and tomorrow in DC, the unclear Brexit process, the US CPI number today and near-term FED interest rate moves and the political situation in the US, amongst others. Equity markets closed higher yesterday after investors perceived optimism on the US China trade deal and the dovish FED meeting minutes, US markets closed higher nearly 1% and EU markets closed higher 0.86%. Metals traded mostly higher on the softer dollar, Gold closed at $1,515 per ounce and Silver at $17.71 per ounce, both will be in focus today if markets will have a substantial move on the US China trade talks. Oil closed the trading day near the flat line despite a spike on news that Turkey launched an attack on Syrian Kurds, sending Oil prices higher more than a dollar. Oil closed marginally green, at $52.68 per barrel, despite higher that expected US inventories, that’s on the Middle East Turkey Syria tensions.
UK GDP and Manufacturing Production at 9:30 am, BOE Gov Carney speech at 10:20 am, ECB Monetary meeting minutes at 12:30 pm and US CPI at 1:30 pm are the important news on the agenda Thursday. (all times GMT).
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Global futures are trading in a news driven mode over the past 10 days, awaiting clarity on major global issues, as US China trade talks are set to resume today.
Gold traded higher on the move to safety following the selloff in global equity markets.
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