The dollar index traded higher sharply higher versus majors as trade war concerns spook investors from FX majors and global equity markets cash moved all into the dollar yesterday, leaving safe havens such as Gold and the JPY with no inflow at all. Global equity markets traded higher following dovish remarks from US Treasury Sec. Munchin then turned south to close at daily lows as investors seek protection in cash at what seems to be a very unclear trading environment. Technology stocks traded sharply lower while metals traded lower on a stronger dollar. Oil traded higher to fresh 2018 highs on a surprise drop in US stockpiles to close above 72$ per barrel, despite record US production levels.
EU Economic Summit meetings all day and US Final GDP at 1:30 pm are the important news on the agenda Thursday.
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