The dollar traded higher mostly sideways closing October at 16 month highs versus the Euro as investors count their losses after a dismal performance of global equity markets in October. Leading indexed lost big in October led by the NASDAQ down 9%, CAC40 down 7.5% and the NIKKEI down 10.3%. Yesterday global equity markets staged a comeback day led by technology stocks that were busted by a surge in Facebook and in expectation of a relief in the tension between the US and China over the tariffs issues. Another big loser for October turned to be Oil, closing its worst month in 2018 and down 10% for the month, after another strong build in US inventories and concerns over global economic slowdown. Oil closed the month at 64.92$ per barrel, down 12$ from 2018 highs reacted just 4 weeks ago.
UK Manufacturing at 9:30 am and BOE rate decision at 1:00 pm are the important news on the agenda Thursday.
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