The dollar traded sharply lower yesterday losing more than 1% versus majors over the past 48 hours, its biggest 2-day loss in more than a year as 10-year Treasuries yields drop below 2% for the first time in 3 years. The CHF gained a record 1.32% versus the greenback and most FX markets traded sharply higher versus the dollar. US and global equity markets traded higher closing yet another positive session, US equity markets traded at all-time highs yesterday before retreating overnight. Gold futures surged more than 3.3% to over the $1,400 level for the first time in 6 years on the weakening dollar signaling that safety is on the table for many investors. Oil traded sharply higher on a tweet from US President Trump saying that “Iran made a big mistake” downing a US drone, sending prices spiraling higher more than 5.5%, to a 3-week high of $57.2 per barrel.
EUR German Flash manufacturing and Services PMI at 7:30 am and CAD Retail Sales at 1:30 pm are the important news on the agenda Friday. (all times GMT).
Global Markets 24 hours wrap-up,
Swing trades follow up
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