The dollar traded sharply higher versus emerging markets after another emerging economy currency, this time the Argentinean Peso, is taking a 12% plunge versus the dollar, joining the Turkish lira, Indian rupee and Indonesian rupee, all at new lows versus the dollar. Investor sentiment turned sour after US President Trump decision to mull 200 Billion tariffs on China and threatened to leave the WTO. US markets traded lower across the board joined by their EU counterparts. Metals traded again lower on a stronger dollar and Oil traded higher lifted by US demand and global supply worries. August trading month will come to an end today with US markets off all time highs while other global equity markets lag, the Nasdaq index is August best performer, up 6% to date.

US Chicago PMI at 2:45 pm is the important news on the agenda Friday.

 

MarketGBPUSDUSDJPYEURJPYEURUSDGOLDOIL
30.8.18-0.07%-0.59%-0.86%-0.27%-0.41%0.94%
USDMXNUSDCHFAUDUSDAUDJPYUSDCADSilverPlatinum
0.95%-0.16%-0.56% -1.14%0.56%-1.35%-0.64%
Dollar IndexDAXFTSE100CAC40EURSXX50NIKKEI225CSI300
0.45%-0.54%-0.62%-0.42%-0.73%0.09%-1.05%
1 YEAR4.1% 2.05%8.34%0.8%17.24%-12.32%

 

Swing trades follow up  

TradeEntry pricePositionOpen profitDate triggeredStop lossRemarks today
USDMXN01920.421030/89300New position
GBPUSD30230.7-16130/83000Stopped out
USDCAD29640.7-20527/82985Stopped out
EURJPY127.760.7163622/8130.2Stopped out
EURJPY128.320.7128623/8130.2Stopped out
OIL69.74332030/869.44New position
       
OPEN PROFIT  $530