The dollar traded higher on the first trading day of 2020 on Euro and Sterling weakness, both lower versus majors on weak economic news and profit taking versus the dollar. Overnight, “safe heavens” traded higher following an US Air Strike against Iranian forces in Bagdad. That sent the dollar lower versus “safe heavens”, the JPY, CHF and Metals, Gold and Silver. Global futures are pointing sharply lower this morning after a record-breaking day yesterday, as global equity markets welcomed 2020 with stellar gains. EU and US equity markets gained more than 1% on average led by the tech heavy Nasdaq and EURSXX50, up 1,28% and 1.29% respectively. Gold and Silver traded higher to a positive close, Gold closed at $1,530 per ounce and Silver at $18.08 per ounce. After a red opening of 2020 as investors fear US record production levels, Oil surged overnight 2% following the increased Middle East tensions. Oil is trading at 3-month highs $62 per barrel and will be a key trade if US Iran tensions escalate near term.
US ISM manufacturing at 3:00 pm and the FOMC meeting minutes at 7:00 pm are the important news on the agenda Friday. (all times GMT).
|Global Markets daily recap|
|TRADE||ENTRY PRICE||POSITION||OPEN PROFIT||DATE TRIGGERED||STOP LOSS||UPDATES|
OIL trades 2% higher overnight following the US drone attack in Baghdad, elevating Middle East tensions.
Gold and Silver rally overnight as investors turn to “safe heavens” as Middle East tensions escalate.
Warning: The information provided on this page (“the information”) is for instructional purposes only, for enhancing your general knowledge of the capital market in general and using trading methods and the technical analysis method in particular. We hereby clarify that the company, its management, staff, shareholders and agents do not hold investment advisor licenses and/or portfolio manager licenses by any applicable law, and do not pretend to advise any person on the worthiness of buying, selling, holding or investing in securities and other financial assets. The information should not be construed to be a recommendation or opinion, and any person who makes any decision based on the information – does so entirely at their own risk. Be aware that the information cannot serve in lieu of advice which accounts for specific information and needs of an individual, and that investing in securities and financial assets may cause loss. The company, its management, staff and agents may have a personal interest in issues related to the information, and may hold specific securities mentioned in the information, or similar securities. If you use the information, you waive any claim or demand against the company or anyone acting on its behalf.