The dollar traded lower across the board following US President Trump call to the FED to lower interest rates ahead of the FED statement tonight. The expectations are for a no move in the interest rates in 2019 however the pressure to move lower with the interest rates put by Trump will have a near term negative impact on dollar strength. Most other FX markets saw very little price action as expected from a pre-FED trading day. US and EU equity markets went thru another choppy lackluster trading day with price action hovering basically at 2019 highs. Metals traded sideways awaiting the dollar action on the FED and Oil traded a narrow range trading day ahead of the inventories number to close at 63.42$ per barrel, up marginally on the day.
US ISM Manufacturing at 1:30 pm, Oil Inventories at 2:30 pm and the FOMC Statement at 6:00 pm are the important news on the agenda Wednesday. (all times GMT).
Swing trades follow up