The dollar traded lower versus majors as “safe heavens” continue to lose ground and investors look up to the next set of talks between the US and China and the upcoming Fed meeting later on this month. Most FX markets traded higher versus “safe heavens”, the JPY and CHF are now lower 4 out of the 5 last trading days and the JPY is at 5-week lows versus the dollar. Global equity markets traded an inside day, on little market moving news and trading a typical Monday session. The FTSE100 is the only major global index that’s in the red for the past 30 days while the Chinese CSI300 is up 8.7% for that period. Metals continued lower yesterday, Gold closed bellow the $1,500 level and is trading this morning at 4-week lows, $1,489 per ounce, down more than 5% from 2019 highs. Oil closed higher more than 2.6% yesterday as investors hope for more Russia and OPEC production cuts, sending prices to a 6-week high and a close of $58 per barrel, up now for the last 4 sessions in a row.
UK Average Earnings and Unemployment rate at 9:30 am is the important news on the agenda Tuesday. (all times GMT).
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EURJPY a 60 pips winner yesterday as investors shun away from “safe heavens”.
Gold long trade idea after a 5 day pullback from 2019 highs.
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