The dollar traded higher across the board yesterday and at fresh 2019 highs versus the Euro as investors turn away from currencies of the troubled Eurozone sending both the sterling and euro lower, drifting away from US political turmoil and focusing on the Brexit and weak economic Eurozone data. The Euro weakness however is expected to play in favor of EU companies increased ability to compete in global markets and this is the path the ECB took when announcing the rate cut 2 weeks ago. US equity markets traded lower on US China trade worries and the political woes of US President Trump, while EU markets traded marginally higher on a weaker Euro. Metals traded sideways after yesterdays big selloff and are looking vulnerable to the stronger dollar near term. Gold closed at $1,506 per ounce and silver at $17.72 per ounce. Oil prices continued their slide for the 4th day in a row this week, closing at $56.5 per barrel yet showing support at the $55.4 per barrel level on the daily chart. Oil prices are now just more than a dollar away from closing the 20% gap that opened on the Saudi oil facilities attack 12 days ago.
US Durable Goods Orders at 1:30 pm and is the important news on the agenda Friday, (all times GMT).
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The sterling traded lower after another setback in the Brexit ongoing process.
Oil lower for the fourth day in a row this week, looking at the 20% gap close.
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