October 18, 2018. The dollar traded sharply higher versus majors following the release of the FOMC meeting minutes which backed Fed policies and sees at least one more rate increase coming in December. The dollar traded at the 1.15 level versus the Euro and back to near 24 month highs versus the AUD. Global equity markets reversed yesterday rally to close in the red across the board, EU, US and Asian markets all trading lower on the stronger dollar. Metals lost ground on the stronger dollar while Oil took a 2.6% dive following the release of the inventories number which showed a big buildup is US stockpiles, up 6.5 million barrels. Oil closed the day at 70$ per barrel after trading as low as 69.35 yesterday.
UK Retail Sales at 9:30 am and EU Economic Summit – all day are the important news on the agenda Thursday.
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