October 25, 2018. – The dollar traded sharply higher versus majors after another round of selling hit US markets sending the technology sector into correction territory and wiping out all gains for 2018. Investors rushed out of the sterling and Euro to flock into the high yielding dollar and the safe heaven – the JPY. The ECB press conference today in the afternoon will be a crucial near term decision point for the Euro as EU leaders had to deal with the worst market performance in more than a decade. Asian markets traded sharply lower overnight as the NIKEI turned red for 2018 and the Chinese benchmark is well in bear market territory. Oil traded higher then turned lower overnight on global selloff pressures despite fears over the Saudi Arabia journalist crisis
The ECB Press Conference and US Durable Goods orders at 1:30 pm are the important news on the agenda Thursday.
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