The dollar traded sharply higher on renewed tensions between the US and China following harsh rhetoric from US President Trump that threatened to impose a 25% tariff on 200 billions of Chinese imports. FX markets reacted with a swift move into the dollar and the greenback was higher across the board, closing below the 1.16 level versus the Euro. Global equity markets traded lower led by the German DAX that closed sharply lower on car tariffs fears. Ahead today for investors is NFP, another potential piece of news that may lead the dollar to fresh yearly highs on an upbeat number. Oil closed higher after a red morning session and Gold traded at fresh 2018 lows to close under 1208$ per ounce on dollar strength.
UK Services PMI at 9:30 am and NFP at 1:30 pm are the important news on the agenda Friday.
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