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
1 YEAR26.77%13.02%27.71%26.38%18.2%40.26%
Swing report
SILVER17.77200066830/1217.99 SL changed
OIL61.768-2030/1261.77stopped out 
OPEN PROFIT  $668   

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.

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