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.
Swing trades follow up
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