The dollar traded mostly sideways and all other FX markets traded a lackluster session ahead of the ECB rate decision and immediately following press conference today at noon. The Euro is sitting above the 1.11 major breakdown level on the daily chart and trading at 9-week lows versus the dollar. The sterling moved higher nearly one percent following the election of the new Prime Minister Johnson however the rally looks to be at this point short lived. US and EU equity markets traded higher, US closed at fresh all-time highs and EU markets are at 2019 highs. Metals traded mostly sideways on a flat dollar and Oil was the big mover in the markets yesterday, as expected on the Inventories numbers. Despite the fell in US inventories by more than 11 million barrel and the Middle East tensions, record US production levels and slowing global demand sent prices lower 1.66% to a $55.33 per barrel close.

EU ECB Rate Decision and the ECB Press Conference starting at 12:45 are the important news on the agenda Thursday. (all times GMT).

Global Markets 24 hours wrap-up
1 YEAR-0.45%-2.05%3.31%1.86%-3.68%7.28%
Swing report
USDCAD31200.810023/73102SL changed
GBPUSD25920.836719/72483stopped out
GBPUSD25290.8-1025/72483new position
EURUSD11350.85025/71160new position
OPEN PROFIT  $140   

Silver prices are up 14% this month, trading at 12 month highs yesterday

Long $1,430 on Gold looks like the next breakout in commodity prices

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.