The dollar traded higher versus major as investors pick up on the greenback from 4 month lows ahead of the FED Chairman speech yesterday afternoon. The stall or lack of clarity on US China traded talks played also in favor of the dollar making it trade in a 16 week range of less than 400 pips versus the Euro. All other FX markets other than the CHF traded in narrow ranges ahead and after Powell’s speech. Metals traded lower on a stronger dollar and Oil spent most of its trading day sideways, going thru a choppy session. EU and other global equity markets traded mostly in positive territory reversing the negative start and looking forward towards the earnings season that will open Monday in the US.
UK GDP at 10:30 am and US CPI at 1:30 pm GMT are the important news on the agenda Friday.
Swing trades follow up
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