The dollar traded higher following the dovish remarks from ECB President Lagarde that said nothing with regard to the negative rate policy of the ECB, as expected from investors. The Euro traded at 7-week lows versus the dollar yesterday, closing at 1.1036. The Euro was under pressure following the expected slowdown in Asian markets as the corona virus becomes a threat to the economies in the region. EU markets traded lower across the board yesterday, while their US counterparts reversed late in the day following a WHO report that provided relief to markets declaring that the virus in not a global health emergency at this point. Gold and Silver traded near the flat line, Gold close higher at $1,562 per once and Silver closed lower at $17.8 per ounce. Oil traded lower to a $55.63 per barrel close, yet closed well of lows following the release of lower than expected US stockpiles, down 450,000 barrels for the week and positive WHO corona virus remarks.
EU Flash Manufacturing PMI at 9:30 am, ECB President Lagarde and US Treasury Sec Mnuchin speech at 10:30 am and CAD Retail Sales at 1:30 pm are the important news on the agenda Friday, (all times GMT).
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The Euro traded at 7 week lows yesterday versus the dollar following dovish remarks from ECB President Lagarde.
Oil prices reversed higher following positive WHO remarks and lower that expected US stockpiles.
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