The wildest day in 2019 by far unfolded yesterday following the release of the ECB easing program and the surprise cut in the interest rate to -0.5%. As a result, the Euro plunged nearly 100 pips then reversed sharply following the low inflation reading in the US that is likely to pave the way for the 0.5% rate cut later on this month by the Fed. While US equity markets responded with a move higher, closing 1% bellow all time highs levels, EU equity markets traded near the flat line. Metals went thru a wild swing on the ECB news, Gold prices jumped nearly $20 to $1,524 then reversed sharply to close marginally positive at $1,498 per ounce. Oil prices continue to selloff following the ease in the US Iran tensions and markets expectations that the sanctions on Iranian oil will be lifted to a degree, as well as questioning OPEC attempts to limit global outputs from Iraq and Nigeria to counter US record production levels. Prices traded sharply lower yesterday to a $55.12 per barrel close, looking at the first weekly red close after 4 consecutive green weeks.

US Retail Sales at 1:30 pm is the important news on the agenda Friday. (all times GMT).


Global Markets 24 hours wrap-up
1 YEAR3.14%0.4%5.38%6.38%-3.65%22.73%
Swing report
EURJPY119.810.8-4013/9119.5 new position
OIL56.2881,10012/955.1SL changed
OPEN PROFIT  $1,840   

Oil traded sharply lower yesterday on US Iran tensions ease. 

EUR swings wildly following the release of the ECB easing program.

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