The dollar traded mostly lower yesterday following the FED decision to stay put with the US interest rate at 1.75% and the dovish forward outlook – for zero rate hikes in 2020. Most FX markets reacted higher versus the dollar sending the index lower 0.3% to a 97 close, marginally above 3-month lows for the index. Global equity markets traded higher yesterday, the heavy tech Nasdaq closed higher 0.44% while EU markets closed higher 0.43% ahead of the upcoming major importance news today, the UK Elections and the ECB rate decisions, press conference and forward outlook. Metals traded sharply higher on the weaker dollar, Gold jumped to a $1,480 per ounce close, up 0.8% while Silver closed at $16.83 per ounce, up 1.34%. Oil traded lower following the Inventories number, that’s on higher than expected US inventories, up by 800,000 barrels versus a 2.8 million decline expected by Reuters forecast. Oil closed lower 0.7% at $58.84 per barrel as investors expect news on the US China trade and the upcoming December 15 tariffs for more clarity for oil demand near term.  

UK Elections All Day, the SNB Press Conference at 8:30 am, The ECB Rate decision and Press conference starting at 12:45 pm, and US PPI at 1:30 pm are the important news on the agenda Thursday. (all times GMT). 

Global Markets 24 hours wrap-up
-0.42%-0.34%0.65%0.48%-0.58%1.34% -0.88%
1 YEAR21.95%6.01%21.94%20.69%8.28%23.09%
Swing report
GOLD1463606209/121466SL Changed
OIL58.880.83012/1259.24new position
OPEN PROFIT  $650   

Gold traded higher yesterday on a weaker dollar following the dovish FED outlook.

Higher than expected US OIL Inventories sent prices lower yesterday ahead of major US China trade news over the weekend.

Warning: The information provided on this page (“the information”) is for instructional purposes only, for enhancing your general knowledge of the capital market in general and using trading methods and the technical analysis method in particular. We hereby clarify that the company, its management, staff, shareholders and agents do not hold investment advisor licenses and/or portfolio manager licenses by any applicable law, and do not pretend to advise any person on the worthiness of buying, selling, holding or investing in securities and other financial assets. The information should not be construed to be a recommendation or opinion, and any person who makes any decision based on the information – does so entirely at their own risk. Be aware that the information cannot serve in lieu of advice which accounts for specific information and needs of an individual, and that investing in securities and financial assets may cause loss. The company, its management, staff and agents may have a personal interest in issues related to the information, and may hold specific securities mentioned in the information, or similar securities. If you use the information, you waive any claim or demand against the company or anyone acting on its behalf.