The dollar traded mostly sideways versus majors yesterday, most FX markets traded in narrow ranges as investors asses the US Chine trade war progress and the ongoing process towards the agreement. EU and US equity markets traded an inside day lackluster session, the EU markets are trading at fresh 2019 highs and the S&P 500 is at all-time highs, as is the technology sector. Metals traded sharply higher overnight on the weaker dollar and lower Treasury yields, Gold prices jumped more than 3% on the move and are trading at $1,428 per ounce this morning, up more than $35 overnight. Oil prices took a steep downturn yesterday as OPEC meetings outcome turned bearish for OIL investors, that’s despite the decision to continue the supply output cuts for another 9 months. Prices traded lower near 5%, to close at $56.47 per barrel, at 10 days lows.
US ADP Non-Farm Employment and CAD trade Balance at 1:30 pm, ISM Non-Manufacturing PMI at 2:00 pm and Oil Inventories at 2:30 pm are the important news on the agenda Wednesday. (all times GMT).