The dollar traded higher opening the trading week on a positive note after the steep losses following last week selloff. The index gained marginally 0.23% however the calm in the bond markets and the ease in the US China trade tensions are likely to play in favor of the dollar near term. The MXN gained more than 2% and returned to its pre-crisis levels just a week ago. Most other FX markets traded a narrow range lackluster session. US and EU equity markets traded higher for the fifth day in a row and technology stocks gained more than 8% over the last 5 trading days, reversing most of the losses of May. Metals traded sharply lower on the stronger dollar, losing more than 1% on Gold and 2% on Silver and Oil turned negative following predictions coming out of Russia that prices are on their way to 30$ per barrel if production and supply levels will not be capped. Oil closed lower more than 1% at 53.39$ per barrel.
UK Average Earnings Index at 9:30 am and US PPI at 1:30 pm are the important news on the agenda Tuesday. (all times GMT).
Global Markets 24 hours wrap-up
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