The dollar traded sharply higher versus majors and emerging markets following the ECB Press conference yesterday. The enouncement for further stimulus for EU banks from the ECB and a dovish rate outlook sent the Euro sharply lower to 21 month lows versus the dollar and triggered a selloff day in EU and US equity markets. Overnight, the Chinese trade balance came weaker than expected and coupled with and a downgrade on a leading Chinese A stock led to a sharp selloff in Asian markets, led to a CSI300 4% drop. FX markets saw the most volatile day in 2019 as the dollar traded more than 2% on average versus emerging markets leading to investors flee from riskier assets and the Euro. Gold traded higher overnight on a run to safety while OIL reversed yesterday gains for a marginal positive close at 56.32$ per barrel.
US NFP and CAD Employment Change at 1:30 pm are the important news on the agenda Friday.
Market | GBPUSD | USDJPY | EURJPY | EURUSD | GOLD | OIL |
7.3.19 | -0.73% | -0.21% | -1.31% | -1.11% | 0.7% | 0.64% |
USDMXN | USDCHF | AUDUSD | AUDJPY | USDCAD | Silver | Nat Gas |
0.45% | 0.71% | -0.34% | -0.55% | 0.14% | 0.56% | 0.84% |
Dollar Index | DAX | FTSE100 | CAC40 | EURSXX50 | NIKKEI225 | CSI300 |
1.27% | -0.6% | -0.53% | -0.39% | -0.48% | -2.01% | -3.97% |
1 YEAR | -6.78% | -0.63% | 0.26% | -3.06% | -1.6% | -10.33% |
Swing trades follow up
Trade | Entry price | Position | Open profit | Date triggered | Stop loss | Remarks today |
GBPUSD | 3083 | 0.7 | -20 | 8/3 | 3110 | New position |
OIL | 56.2 | 7 | 40 | 7/3 | 56.51 | SL changed |
OPEN PROFIT | $20 |