FX markets had very little reaction to the release of the FOMC Statement yesterday afternoon, after a strong first reaction the dollar lost ground and traded mostly sideways or lower thereafter versus majors. The Fed policy of keeping a close call on interest rates and act according to economic developments failed to impress US President Trump which is likely to step up its pressure on the FED to move faster with lowering rates, siting now at 2%. More from central bankers is expected today after the SNB and BOE are set to release their monthly statements and future outlook for Swiss and British economies. Global equities markets traded sideways, ahead and after the FOMC release, closing the trading day near the flat line, for the third day in arrow this week. Gold reacted with a sharp move lower on the Fed, then reversed to close marginally lower, at $1,492 per ounce. Oil prices trend to the downside continued yesterday, that’s after the release of Oil Inventories which came in higher than expected, at 1.1 million barrels. Oil closed lower at $58.1 per barrel, down more than 13 dollars over the last 48 hours after Saudi export levels are stabilizing and global supply back on track following Saturday production facilities attacks.
UK Retail Sales at 9:30 am, BOE Rate decision at 12:00 pm and US Philly Manufacturing Index at 1:30 pm are the important news on the agenda Thursday. (all times GMT).
| Global Markets 24 hours wrap-up | ||||||
|---|---|---|---|---|---|---|
| Market | GBPUSD | USDJPY | EURJPY | EURUSD | GOLD | OIL |
| 18.9.19 | -0.14% | 0.28% | -0.08% | -0.36% | -0.52% | -2.06% |
| USDMXN | USDCHF | AUDUSD | AUDJPY | USDCAD | Silver | Nat Gas |
| 0.19% | 0.4% | -0.48% | -0.19% | 0.31% | -2.01% | -1.35% |
| Dollar Index | DAX | FTSE100 | CAC40 | EURSXX50 | NIKKEI225 | CSI300 |
| 0.21% | 0.14% | -0.09% | 0.09% | 0.19% | 0.38% | 0.15% |
| 1 YEAR | 1.4% | -0.23% | 4.21% | 4.73% | -6.88% | 17.95% |
| Swing report | ||||||
|---|---|---|---|---|---|---|
| TRADE | ENTRY PRICE | POSITION | OPEN PROFIT | DATE TRIGGERED | STOP LOSS | UPDATES |
| NASDAQ | 7833 | 8 | -10 | 16/9 | 7799 | stopped out |
| DAX | 13378 | 4 | -120 | 16/9 | 12408 | stopped out |
| OIL | 58.89 | 8 | 450 | 18/9 | 59.3 | new position |
| GOLD | 1490 | 60 | 370 | 9/9 | 1480 | |
| OPEN PROFIT | $820 | |||||
EUR and GBP had little reaction to the FOMC release yesterday.
Oil traded sharply lower following the release of the inventories numbers yesterday and down $14 over the past 48 hours.
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