The dollar traded sharply lower versus majors as investors moved into the sterling and the Euro on news that a draft has been agreed upon between the UK and the EU on the Brexit deal. Investors took profits from the dollar at 16 month highs and the greenback basically reversed Monday price action yesterday. Global equity markets traded higher in the morning and all EU equity markets closed in the green yet US equity markets turned again the table around for investors closing at daily lows. OIL turned another big selloff day, diving near 8% and down 25% from year highs ahead of the inventories number today on oversupply concerns and lower emerging markets demand to close at 55.46$ per barrel.
UK CPI at 9:30 am and US CPI at 1:30 pm and OIL Inventories at 3:30 pm are the important news on the agenda Wednesday.
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