The dollar traded sharply lower versus majors following the dismal NFP report Friday and investors expectation for a Fed interest rate decrease as soon as July. This move capped the worst week for the dollar in 2019 and a decline of 1.45% in a week for the dollar index, sending the Euro to 10 weeks highs and above the 1.13 level. The exodus out of the dollar seems to only just beginning as the safe heavens contracted as well on a run up in global equity markets that capped a stellar reversal week, led by the Nasdaq and the EURSXX50. Metals traded higher Friday yet reversed sharply lower over the weekend while the MXN gapped up more that 2% on the US Mexico trade agreement over the tariffs issues. Oil traded higher on markets optimism and the weaker dollar to close above the 54$ per barrel, up more than 3.5$ over the past two sessions.
UK GDP and Manufacturing production at 9:30 am are the important news on the agenda Monday. (all times GMT).
Global Markets 24 hours wrap-up
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