The dollar traded mostly sideways versus majors yesterday, trading higher in the morning session then lower after US President Trump again expressed his disappointment from the strength of the US currency and the lack of Fed response on the matter. The JPY continued its path higher versus majors, trading at fresh 2019 lows versus majors this week and establishing his status as the “safe heaven” currency this year. Global equity market traded higher yesterday, US equity markets turned green for the week after 3 consecutive winning sessions and EU equity markets reversed higher from lows are most likely to mimic the path of US markets today. Gold traded mostly sideways and closed above the $1,504 level while Silver investors went thru a small pullback after Wednesday’s amazing rally. Oil traded sharply higher from 2019 lows, that’s on more OPEC expected production cuts and Saudi Arabia call for other global producers to “discuss” the latest drop in crude prices, now in bear market territory after a 20% pullback from recent highs. Oil prices closed at $52.86 per barrel, up nearly 3.5% yesterday.
UK GDP at 9:30 am and CAD Employment Change at 1:30 pm are the important news on the agenda Friday. (all times GMT).
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Nasdaq futures turned green for the week yesterday after a 3 day rally
Oil long 52.68 entry, stop under recent support, on OPEC proposed production cuts
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