The Euro was in focus yesterday for FX investors following the mixed signals sent by ECB President Draghi during the ECB Press Conference. The dovish ECB wasn’t all the market expected, leaving rates unchanged and sending EU markets lower and the Euro higher versus majors. The dollar traded mostly higher versus FX markets other than the Euro, sending metals lower ahead of the GDP reading today before US markets open. Overall, investors fear a slowing global economy and the upcoming trade war resolution is still blur. Oil traded marginally higher yesterday, closing at $55.86 per barrel after fears of Middle East supply disruptions were offset by US record production levels and fears of slowing global demand.
US Advanced GDP at 1:30 pm is the important news on the agenda Friday. (all times GMT).
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USDCAD LONG 3120, SL 3113, Target 3200
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