The dollar traded higher versus majors as US recession fear fade near term or shift to other global markets and despite weak US economic data, investors opted for the dollar yesterday. Global equity markets traded modestly higher across the board, EU and US equities closed all in the green despite a lackluster session and very little market volumes or positive news of any kind. Metals traded lower across the board on a stronger dollar, Gold traded more than a percent lower before closing at 1316$ per ounce, down 0.5% on the day. OIL traded sharply higher to close at 59.98$ per barrel, on Venezuela supply issues and OPEC production cuts and the 60.5$, 2019 high, per barrel level will be challenged today following the release of the inventories number in the afternoon.
ECB President Draghi speech at 8:00 am and US OIL Inventories at 2:30 pm are the important news on the agenda Wednesday. (all times GMT).
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