The dollar index traded higher for the ninth time in the last ten days following the decision by US President Trump to impose sanctions on Iran. While global equity markets hardly responded to the news, FX markets moved towards safe heavens as investors move into the CHF and JPY. Gold spiked higher to the 1320 $ level then moved lower to close at 1310$ per ounce. The biggest mover in the markets was again oil, spiking to over 70.5$ per barrel after the news after trading as low as 67.5$ earlier, a 5% intraday move, all that ahead of the Inventories number today in the afternoon.
US PPI at 1:30 pm then Oil inventories at 3 pm GMT are the important news on the agenda Wednesday.
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