The dollar closed the trading weak on a strong note, up 0.56% for the week after a series of positive economic news capped by a better that expected GDP reading on Friday. Overall that was the best week for the dollar in 6 weeks. Most FX markets traded a lackluster session and the Sterling traded mostly sideways after the UK Parliament finally voted to exit the EU and voted to reach a trade agreement by the end of 2020. US and EU equity markets closed the week higher, the Nasdaq closed the week up for the 14-th time out of the last 15 trading weeks and at all-time highs. Gold closed the trading day near the flat line, marginally higher at $1,478 per ounce and Silver traded higher, up 3 weeks in a row to a $17.04 per ounce close. Oil closed the week lower, breaking a 7-day winning streak and at three weeks of gains on profit taking – closing at $60.4 per barrel and at 15-month highs.
CAD Final GDP and US Durable Goods Orders at 1:30 pm are the important news on the agenda Monday. (all times GMT).
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Profit taking looms for OIL investors after a 3 week rally on US China trade agreement relief.
FX markets had little reaction to the UK Parliament Brexit vote Friday, setting a late 2020 target for the Brexit trade agreement.
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