The dollar traded sharply higher versus major following the relief in the trade war rhetoric and the statement by US President Trump at the G7 in Paris that China wants a deal with the US badly. The CHF and JPY as well as Gold traded lower on a move away from safety, as global equity markets changed direction to the upside after the big selloff day Friday. The positive sentiment is carrying on into the futures this morning, Asian markets are trading higher and the next set of tweets or speeches from US officials are likely to be the next set of market moving news. Global equity markets closed higher more than 1% in US and Asian markets, while EU markets lagged and are likely to follow their counterparts this morning. Gold traded sharply lower from 2019 highs, $1,550, closing at $1,530 per ounce, and are trading at $1,524 support this morning while Oil prices seesawed up and down yesterday, closing at $53.75 after trading above the $55 level, that’s on global demand worries and fears that OPEC outputs cuts will be offset by US record production levels.
US CB Consumer Confidence at 2:00 pm is the important news on the agenda Tuesday. (all times GMT).
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Gold looking at $1,524 support after big pullback yesterday
USDCHF bear flag short, 20 pip risk trade idea
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