The dollar traded higher after three red day this week on expectation that the global tariffs crisis is under control and the Trump administration will no exercise its plan versus Mexico ahead of talks between the countries. FX markets reversed back into the dollar as global tension eased and the JPY traded lower from 5 months highs. EU and US equity markets traded higher for the second day in a row, yet in narrow ranges as investors sit mostly on the sidelines awaiting more on the Fed rate path and more on the US China trade disputes. Metals traded sideways after three strong days while OIL took another steep drop following the release of US Inventories and production numbers which came stronger than expected, record production of 124 million bpd and a surge of 6.8 million in the inventories, to a 24-month high. Oil closed down into bear market territory at 51.64$ per barrel, back to January 2019 price levels.
UK BOE Gov Carney speech at 9:00 am, EU ECB Press Conference at 12:30 pm and CAD Trade Balance at 1:30 pm are the important news on the agenda Thursday. (all times GMT).
Global Markets 24 hours wrap-up
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