The dollar traded mostly higher versus major, lifted by the positive sentiment in global equity markets and investors expectations from policymaker in China and Germany to unleash new stimulus plans, as well as the pressure put by US President Trump on the Fed to move faster and lower the interest rates by at least 1%. As a result, “safe heavens” lost ground, the JPY and CHF traded lower across the board while riskier assets gained. EU equity markets traded sharply higher for the second day in a row, on expectations for a new stimulus plan, gaining more than 1.2% on the EURSX50. US equity markets closed at their highs, up 3 days in a row, gaining 3% in the process. Metals traded lower on the move away from safety, Gold closed bellow the $1,500 level at $1,496, a 3% pullback from 2019 highs. Oil traded higher on the stimulus program that’s on hopes that the move will counter the slowdown trend in global economies. Oil closed at $56.11 per barrel, up 3 days in a row, ahead of the Inventories numbers tomorrow afternoon.
There is no important news on the agenda Tuesday. (all times GMT).
|Global Markets 24 hours wrap-up|
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NASDAQ long trade from “hammer” on daily chart, up 3 days in a row, already a $2,000 plus winner
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