The dollar traded marginally lower on profit taking after two strong gaining days and fresh worries for the US China trade deal after the meeting between US President Trump and China leader Xi Ping has been delayed until December. The sterling will be the market in focus for FX investors on the BOE meeting and rate decision later on today. Global equity markets traded a flat day across the globe, EU, US and Asian markets all traded near the flat line or marginally positive. Gold and Silver reversed some of yesterdays steep loses, Gold closed at $1,493 per ounce and Silver at $17.60 per ounce, both marginally in the green. Oil traded sharply lower, losing nearly 1.5 % after the Inventories numbers came at 8.7 million barrels, versus the 1.5 million expected and US exports fell by 1 million barrel per day, back to 2.4 million. The delay in the US China phase one deal is likely to have a negative impact on prices near term. The negative close yesterday is another setback for OPEC+ price stability efforts as well.

EU Economic Forecast at 11:00 am, BOE Rate decision at 1:00 pm and BOE Gov Carney speech at 1:30 pm are the important news on the agenda Thursday. (All times GMT).

Global Markets 24 hours wrap-up
6.11.19-0.18%-0.22%-0.23%-0.02%0.63% -1.48%
1 YEAR14.76%5.06%15.6%15.01%5.63%23.9%
Swing report
OPEN PROFIT  $320   

The sterling will be in focus for FX markets investors today on BOE rate decision at 1:00 pm.

Oil trades higher this morning after the big red day yesterday on the Inventories numbers.

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