The dollar traded higher nearing 16 month highs versus the Euro and most FX markets other than the AUD traded lower versus the dollar as red October for global equity markets is coming to a close today. Global equity markets seem to recover from what has been a dismal month for investors as October shaved an average 10% of global equity markets valuations. US markets closed yesterday higher giving hope for a reversal in Asian and EU markets this morning led by the technology sector. Metals traded mostly lower on a stronger dollar while Oil closed lower at 66.29$ per barrel, awaiting the most important inventories numbers today in the afternoon.
CAD GDP at 1:30 pm and Oil Inventories at 3:30 pm are the important news on the agenda Wednesday.
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