The dollar traded marginally higher versus majors after 4 selloff days, that’s following Fed Chairman Powell speech yesterday afternoon. Most FX markets traded a narrow range session, the dollar saw some bottom fishing sporadic buying from 2019 lows versus the CHF and JPY, that’s ahead the next important economic event, the G20 meetings in Japan over this weekend. US and EU equity markets traded lower, both showing some profit taking after the 9% run up this month, sending the technology sector lower in the US lower by nearly 2%. Metals traded lower on a stronger dollar and profit taking, Gold is trading bellow the $1,410 level this morning after trading as high as $1,440 yesterday. Oil investors are awaiting more on the Inventories and production number today in the afternoon, that’s after a surge of Oil prices to 30-day highs yesterday, that’s on lower stockpiles and renewed tensions between the US and Iran. Oil closed at $58.7 per barrel yesterday.
UK Inflation Report at 9:15 am, US Durable Goods Orders at 1:30 pm and Oil Inventories at 2:30 pm are the important news on the agenda Wednesday. (all times GMT).
Global Markets 24 hours wrap-up
Swing trades follow up
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