The dollar and most FX markets traded mostly sideways with little market moving news on the agenda as investors brace for positive US China trade news and US President Trump suggests the deal is around the corner. US equity markets traded another lackluster session closing at all-time highs while EU and Asian markets traded mostly sideways at 2019 highs. Most investors stayed on the sidelines yesterday and the trading session was on extremely low volumes and little price movement. Safety instrument reversed higher late in the session, however Gold, Silver and the JPY have been on a downward path for the most part of November. Gold closed yesterday at $1,460 per ounce, Silver closed at $16.92 per ounce, both higher on the day. Oil traded higher ahead of the Inventories numbers today at 10:30 am US, that’s on US China trade optimism and in expectation of OPEC+ meeting early December in Vienna. Oil prices closed yesterday at $58.27 per barrel, up for the second day in arrow this week.
US Durable Goods orders at 1:2:45 pm, US Chicago PMI at 2:45 pm and Oil Inventories at 3:30 pm are the important news on the agenda Wednesday. (all times GMT).
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Oil traded higher yesterday ahead of the most important inventories numbers today at 10:30 am US.
Sterling lower versus the dollar yesterday as investors express concern ahead of the UK elections and upcoming Brexit vote.
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