The dollar traded mostly sideways as investors await the ECB press conference today at noon and the NFP numbers tomorrow in the afternoon, on top of clarity on the US China trade talks. FX markets traded in very narrow ranges other than commodities economies which traded lower versus the dollar on investors fear of a global slowdown and lack of positive triggers to add to the global equity rally that seems finally to stall after an amazing 2019 opening two months run. Equity markets traded lower across the board while commodities markets traded mostly sideways and Oil had another inside day, seesawing on the inventories number just to close marginally lower at 56.22$ per barrel as US sanctions on Venezuela and Iran and OPEC cuts offset the record 12.1 million bpd US crude output and a higher than expected inventories number.
EU ECB Press Conference and Rate Decision starting at 12:45 pm is the important news on the agenda Thursday.
Swing trades follow up