The dollar traded higher versus majors as the Euro traded lower following news on Italian government woes and a possible budget breach. EU equity markets responded with a sharp selloff that sent the EURSXX50 down more than 1.5% and signaled that the EU markets are far from turning the corner at this point as US markets trade at all time highs. Metals traded higher on a run to safety in Europe and OIL traded higher to close at four year highs 73.4$ per barrel as the sanctions on Iran sent investors into Oil on supply fears as the markets are quite tight and the ability of Saudi Arabia to up production questionable.
UK Manufacturing PMI at 9:30 am and US ISM Manufacturing at 1:30 pm are the important news on the agenda Monday.
Swing trades follow up
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