The dollar traded sharply higher versus the sterling and sideways versus most other FX markets ahead of the FOMC statement tomorrow in the afternoon. The ongoing Brexit saga and the Pro-Brexit approach of the new UK Prime Minister Boris Johnson sent the sterling lower to 30-month lows versus the dollar and to fresh 2019 lows versus the Euro. All other FX markets traded a typical narrow range no news Monday session, as investors eye the FED rate decision and outlook set to be posted Wednesday afternoon. Global equity markets traded a narrow range session, as expected from a no news Monday session. AAPL earnings due today and the Fed decision tomorrow will set the tone for the markets short term. Metals traded mostly higher on a softer dollar while Oil traded higher in expectation of a US rate cut that’s likely to “fuel” the world biggest economy and the world biggest Oil user. Oil prices closed higher more than 1% at $57.01 per barrel.
US CB Consumer Confidence at 2:00 pm is the important news on the agenda Tuesday. (all times GMT).
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Long Silver at 15.43, Stop Loss at the tested level 16.3, swing target at least 3:1
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