The dollar traded mostly sideways versus majors as FX markets opened the trading week on a flat note. Most FX markets traded in narrow ranges, the weakness in global equity markets sent investors into the JPY yet yesterday was a session that spent most of its time sideways. Global equity markets saw the first red day in US stocks in more than a month, that’s mainly on profit taking and there was no major news on the agenda to imply anything is wrong with the uptrend in the global equity markets at this point. Metals went thru another brutal selling day on dollar strength and Oil traded higher on OPEC production cuts and optimism on the US China trade deal, closing at 56.45$ per barrel.
US ISM Non-Manufacturing PMI at 3 pm is the important news on the agenda Tuesday.
Swing trades follow up
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