The dollar traded marginally higher versus majors for the second day in a row as investors look to the upcoming G20 over the weekend meetings in Japan. Optimism in global markets sent the “safe heavens”, JPY and CHF and Gold lower, on a move away from safety. Gold, the JPY and CHF traded at fresh 2019 highs versus the dollar this week. Positive remarks from US Treasury Secretary Mnuchin on the upcoming trade agreement between the US and China sent global equity markets higher and lifted the dollar from 2019 low versus the JPY and reversed course versus metals, as Gold took a $36, three percent pullback from 6-year highs over the past two sessions. Oil futures continued to climb, up near 2.5% yesterday, on a steeper than expected drawdown in US stockpiles, down 12.8 million barrels this week, that’s on record highs US exports of 3.8 million bpd. OPEC meetings are also pressuring prices that rose yesterday to one-month highs and closed at $59.22 per barrel.
OPEC meetings all day and US Final q/q GDP 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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