The dollar traded lower versus majors as investors fear the impeachment process versus US President Trump and the implication of the process on the US economy as well as global recession fears following the weak manufacturing and hiring data coming out of the US and Europe. “Safe heavens” gained across the board yesterday as investors switch again into the CHF and JPY, Gold and Silver. The CAD was also on the losing side yesterday, as investors move out of the CAD, down 1.5% versus the JPY for the more stable FX markets and “safe heavens”. US and EU equity markets went thru a second big losing day in a row, EU markets traded lower nearly 3%, the worst losing day in more than 2 months and US equity markets traded lower more than 1.5%. Metals rebounded sharply on the move to safety, Gold closed higher at $1,500 per ounce after a $40 rebound in 48 hours and Silver traded up nearly 2% and closed at $17.42 per ounce. Oil stayed on the losing path, now down 10 days in a row and trading at 2-month lows. Investors fear a global slowdown and excess US and Russia production levels will also temper with OPEC attempts to stabilize prices. Oil inventories coming higher than expected at 3.1 million barrels, also contributed to the pressure on prices and Oil closed at $52.45 per barrel, down 20% over the past 16 days.

US ISM Non-Manufacturing PMI at 2:00 pm is the important news on the agenda Thursday. (all times GMT). 

Global Markets 24 hours wrap-up
MarketGBPUSDUSDJPYEURJPYEURUSDGOLDOIL
2.10.190.02%-0.5%-0.25%0.26%1.08%-2%
USDMXNUSDCHFAUDUSDAUDJPYUSDCADSilverNat Gas
-0.13%0.38%0.03%-0.47%0.73%1.81%-1.26%
Dollar IndexDAXFTSE100CAC40EURSXX50NIKKEI225CSI300
-0.1%-2.76%-3.23%-3.12%-2.98%-2.1%0%
1 YEAR-2.95%-5.16%-1.25%0.23%-11.61%10.92%
Swing report
TRADEENTRY PRICEPOSITIONOPEN PROFITDATE TRIGGEREDSTOP LOSSUPDATES
       
DAX1223341,4902/1011970SL Changed
OIL54.2881,1002/1053.54SL Changed
       
CADJPY80.40.8-303/1080.62 new position
       
OPEN PROFIT  $2,570   

DAX “bear flag” short worked yesterday, Stop Loss lowered above new “bear flag” this morning.

Oil trading at 2 month lows this morning after another red day yesterday on global recession fears and higher than expected inventories numbers.

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.