FX markets traded mostly sideways yesterday, with no major moves and little reaction following the FED decision Wednesday afternoon to move lower on US interest rates to 2%. The dollar traded at 8-week lows versus the sterling after a positive Brexit statement from EU Commission President Juncker and BOE decision to stay put with interest rates at 0.75%. Most other FX markets traded sideways with very little market moving news on the agenda. EU and US equity markets traded in sideways or in positive territory, closing flat in the US and higher in the Eurozone. Metals traded mostly sideways yet Gold managed a marginally positive $1,499.5 per ounce close while Silver traded sideways for a $17.65 per ounce close. Oil managed to stabilize at $58 per barrel and traded a lackluster narrow range session after a most volatile week, trading lower down to $58 per barrel from $63 weekly highs Monday and closing at $58.7 per barrel yesterday.
CAD Retail Sales at 1:30 pm and FOMC Member Rosengren speech at 4:20 pm are the important news on the agenda Friday. (all times GMT).
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Sterling higher following BOE rate decision and positive Brexit agreement remarks from EU’s Juckner.
Gold trades sideways from $1,480 per ounce support, trade long still alive after more than a week.
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