The dollar sideways versus majors other than the sterling with no major moving news on the agenda and investors looking at the inverted yield curve and the developments of the trade war for clues as to near term markets movement. The no-deal Brexit fears resurfaced again yesterday after UK Boris Johnson decision to suspend the UK Parliament, leading to a possible no-deal Brexit, and sending the sterling lower about 1% versus majors. EU equity markets traded a lackluster summer session that closed near the flat line while US markets traded mostly higher led by lower treasury yields and markets optimism over the US China trade negotiations. Overall sentiment changed on a daily basis this week and more clarity should be expected after the Labor Day weekend coming up. Metals traded mostly higher, Gold prices elevated yet are in check bellow the $1,500 level while Silver prices climbed to 3-year highs $18 per ounce on investors move to safety markets other than the JPY or CHF. Oil prices traded sharply higher during the morning session than reversed to close nearly flat. The inventories numbers came in lower than expected, suggesting OPEC production cuts are “working” to deplete US stockpiles, sending prices higher, then US production numbers came in at all time highs, 12.5 million bpd and FED member Daly said in a speech overnight in New-Zeeland that see has concerns over the US economy, driving Oil prices lower to a $55.88 per barrel close.

US Prelim GDP at 1:30 pm is the important news on the agenda Thursday.  


Global Markets 24 hours wrap-up
1 YEAR-6.85%-5.93%-2.41%-2.63%-10.77%11.68%
Swing report
OIL55.58-3228/855.46stopped out
GOLD1,52860110027/81,528  SL changed
NASDAQ75938-48028/87533 stopped out
OPEN PROFIT  $1,100   

Gold continues higher on the move to “safety”, up $20 from support levels this week

Silver prices skyrocket 5% this week on the move to “safety”, trading at 36 month highs yesterday

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