Global futures are trading lower Monday morning after the big selloff in global equity markets Friday and another run to safety following what seems to be an intensification of the trade war between the US and China and zero positive clues from Fed Chairman Powell on the interest rate path, coming out of Jackson Hole meetings on Friday. The JPY traded sharply higher versus majors Friday, trading at fresh 2019 highs versus the dollar after investors flocked to safety, sending global equity markets sharply lower and looking for the JPY, CHF and Gold as a measure of balance versus the losses incurred in the riskier markets. The dollar traded sharply lower versus majors on global slowdown worries as investors move into the JPY and CHF, that’s ahead of the G7 conclusion of the weekend meetings, today. Metals traded sharply higher, Gold traded earlier this morning just below the $1,550 level, at 6-year highs and fresh 2019 highs before pulling back to the $1,540 level. Oil investors suffered a red week, closing down 3.5% at $53.08 per barrel, following fears of a global slowdown that were offset to some degree by the OPEC proposed production cuts and the lack of clarity on US crude export levels, following the intensification of the trade war.

 

 

G7 meeting all day, German IFO Business climate at 9:00 am and US Durable goods orders at 1:30 pm are the important news on the agenda Monday. (all times GMT).

 

Global Markets 24 hours wrap-up
MarketGBPUSDUSDJPYEURJPYEURUSDGOLDOIL
23.8.190.29%-1.06%-0.45%0.63%1.99%-2.58%
USDMXNUSDCHFAUDUSDAUDJPYUSDCADSilverNat Gas
0.46%-0.94%-0.38%-1.13%-0.13%2.44%-0.14%
Dollar IndexDAXFTSE100CAC40EURSXX50NIKKEI225CSI300
-0.56%-1.15%-0.47%-1.14%-1.17%-2.17%-1.56%
1 YEAR-6.32%-4.78%-1.94%-2.72%-10.36%13.1%
Swing report
TRADEENTRY PRICEPOSITIONOPEN PROFITDATE TRIGGEREDSTOP LOSSUPDATES
USDCAD33100.8-14222/83288stopped out
            
        
GOLD1,498502,12019/81,528  SL changed
        
NASDAQ77558-47523/87700 stopped out
OPEN PROFIT  $2,120   

Gold traded sharply higher from support Friday following the US China trade war and global markets selloff – trading this morning at fresh 2019 highs

Nasdaq futures lower this morning yet looking up following Friday aggressive 3% selloff

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