The dollar traded mostly sideways on another lackluster session in global FX markets as investors keep up with the lack of volatility and put their money to work in other markets, i.e. global equity markets. As the lack of volatility in the FX markets keeps investors on the sidelines global equity markets are trading at 2019 highs and the US earnings season that kicked off this week looks like a promising start of another leg up in US and EU securities, if only for the lack of alternatives. Metals traded lower as investors move out to riskier assets and Oil traded higher and on pace to break 2019 highs today on the inventories number. 2019 highs of 64.78$ per barrel will be a challenge for Oil as .investors await news on US production and more from OPEC and Russia attempts to concur back market share from US producer
UK CPI at 8:30 am, CAD CPI and Trade Balance at 1:30 pm, OIL Inventories at 3:30 pm and FOMC Member Ballard speech at 6:pm are the important news on the agenda Wednesday. (all times GMT).
Swing trades follow up