The dollar traded mostly sideways versus FX markets as investors await the outcome of the FOMC meeting tonight, the first in 2019 and the one that is most likely to pave the path for the dollar near term. With no news on the agenda most FX markets traded in narrow ranges to close the trading day up marginally for the dollar index. Metals turned to be the biggest winners yesterday, Gold traded another strong upside day, closing at 8 month highs 1311$ per ounce. Global equity markets traded in narrow ranges and closed positive in the EU and mixed in the US while OIL traded higher following yesterdays slump and ahead of the inventories numbers today to close at 53.24$ per barrel.
OIL Inventories at 3:30 pm and the FOMC Statement at 7:00 pm are the important news on the agenda Wednesday.
Swing trades follow up
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