October 11, 2018. The dollar traded mostly sideways as FX markets basically ignored the rout is global equity markets yesterday and the JPY was the only winner in the FX markets yesterday. A downgrade by the IMF of US equity markets seemed to be the trigger for the broad market selloff as US technology stocks lost more than 4% and EU equity markets are trading now a mere half a percent from correction territory. Increased US rates, weakness in emerging markets, the US China trade war and profit taking from US markets trading near all time highs, all that contributed to the big selloff day, the worst in 7 months. Oil joint the global rout ahead of the inventories number postponed this week for today in the afternoon, to close at bellow 73$ per barrel.
UK BOE Gov Carney speech at 10 am, US CPI at 1:30 pm and OIL Inventories at 3:30 pm are the important news on the agenda Thursday.
Swing trades follow up
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