Global equity markets closed the trading day yesterday with steep losses however markets seem to be rebounding this morning from overnight lows after the Bank of China set the YUAN at 6.9683, higher than expected by Reuters estimates, signaling a pullback from the currency war declared by US President Trump yesterday as currency manipulation. FX markets voted for the Euro and “safe heavens” yesterday, the Euro was a winner across the board while the selloff in global equities markets lifted both the CHF and JPY. US and EU equity markets traded sharply lower, closing the day as the 6th worst day ever for the DOW, the Nasdaq lost nearly 3.5% and all leading sectors other than Gold and Silver traded in negative territory. Gold investors enjoyed the vast move to safety as prices moved to fresh 2019 highs, trading above $1,470 per ounce level, before pulling back 1% this morning. The only commodity than didn’t give in to the selloff was Oil, that’s on fresh tensions in the Middle East and a declaration by the US Defense Minister that US will stand by its allies against Iran aggressions. Oil prices closed at $54.92 per barrel yesterday.

There is no important news on the agenda Tuesday. (all times GMT).

Global Markets 24 hours wrap-up
1 YEAR-7.46%-5.74%-4.3%-4.95%-8.7%10.03%
Swing report
NASDAQ7593814205/87520SL changed
EURGBP91680.84405/89197SL changed
OIL558-4165/855.5stopped out
OPEN PROFIT  $1,860  


NASDAQ futures took a 3.5% dive yesterday yet look to be rebounding this morning

TRADE of THE WEEK: The EURO broke to fresh 2019 highs versus the Sterling, stop loss updated to 9196

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.