The dollar traded mostly sideways versus majors and sharply higher versus the MXN after US President Trump tweeted that he will impose new 5% trade tariffs on Mexico if it won’t fight the illegal emigration to the US. The move sent the MXN lower by more than 2.5% overnight and is likely to be the place for FX traders to look for a substantial move today. US and EU equity markets traded yesterday a narrow range session that was capped by lack of US China trade deal transparency and future outlook of the talks. Metals traded higher on the softer dollar and a move to safety and Gold closed above the 1292$ per ounce level, up 16$ over the last two sessions. Oil inventories numbers were not kind to Oil investors yesterday, after the EIA announced record US production levels of 12.3 million barrels per day and a lesser than expected drop in Oil Inventories. Coupled with a rise in Saudi Arabia oil production and fears of a global slowdown, prices took a steep drop to close lower by nearly 4%, at 56.44$ per barrel, the biggest drop in 2019 so far and on pace with the biggest monthly drop since last November.
CAD GDP at 1:30 pm is the important news on the agenda Friday. (all times GMT).
Global Markets 24 hours wrap-up
Market | GBPUSD | USDJPY | EURJPY | EURUSD | GOLD | OIL |
29.5.19 | -0.13% | -0.01% | 0.03% | 0.04% | 0.47% | -3.77% |
USDMXN | USDCHF | AUDUSD | AUDJPY | USDCAD | Silver | Nat Gas |
2.52% | 0.01% | -0.09% | -0.11% | 0.18% | 0.62% | -2.52% |
Dollar Index | DAX | FTSE100 | CAC40 | EURSXX50 | NIKKEI225 | CSI300 |
0.01% | 0.54% | 0.46% | 0.51% | 0.62% | -1.63% | -0.2% |
1 YEAR | -6.9% | -5.99% | -2.77% | -2.6% | -6.52% | -4.18% |
Swing trades follow up
Trade | Entry price | Position | Open profit | Date triggered | Stop loss | Remarks today |
OIL | 58.73 | 8 | 2200 | 30/5 | 57 | New position |
USDCAD | 3497 | 0.8 | 290 | 29/5 | 3430 | SL Changed |
OPEN PROFIT | $2490 | |||||