The dollar index traded in narrow ranges following the decision by US President Trump to back from the Iran nuclear agreement leaving OIL as the main driver in the commodities markets. Oil took another three percent bounce to close at above 71.5$ per barrel on the proposed sanctions despite soaring US crude output that reached new record highs. Global equity markets traded mostly higher led by the energy sector, that’s ahead of the Bank of England rate decision today at noon. EU markets banks are on vacation today, leading to a low volume inside action FX markets trading day, until noon.
UK Manufacturing at 9:30 am, the BOE rate decision at 12 noon and US CPI at 1:30 pm GMT are the important news on the agenda Thursday.
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