The dollar traded higher for the third day in a row this week as investors took to “Safe Heavens” following weakness in global equity markets as they realize that the US China trade war is an ongoing prolonged issue that is not likely to wash away from headlines anyway soon. Overall FX markets traded another lackluster session and the dollar is trading now at record 2019 highs versus the sterling and euro despite the dovish 2019 Fed. US and EU equity markets traded lower to 12 weeks lows yesterday, erasing April amazing gains and the Nasdaq is on pace for the fourth red week in a row and 2% away from correction territory. Metals traded higher on a move to safety despite the stronger dollar and Oil traded lower then reversed higher ahead of the anticipated inventories numbers postponed for today because of the US Memorial Day Holiday. Oil closed marginally lower at 59.1$ per barrel.
US Prelim GDP at 1:30 pm and OIL Inventories at 3:30 pm are the important news on the agenda Thursday. (all times GMT).
Global Markets 24 hours wrap-up
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