The sterling traded sharply higher versus majors following reports that that a Brexit resolution is on the table for the UK government and the EU, sending the currency 2% higher versus the dollar, its biggest one day move in more than 8 months. The US CPI number came in weaker than expected, sending the dollar lower nearly 0.5% versus majors yesterday, as investors move into riskier assets leaving “safe heavens” until further news. The JPY, CHF and Metals traded sharply lower while US and EU equities gained across the board, EU markets climbed nearly 1% and in Asian markets trading the NIKKEI gained 1.2% overnight. Gold and Silver traded sharply lower on the move away from safety, Gold closed lower at $1,493 per ounce and Silver at $17.77 per ounce, both topping a 1% loss on the day. Oil prices closed higher on US China trade optimism, that’s despite OPEC’s lowering demand forecast as investors expect additional OPEC production cuts. OIL closed at $53.86 per barrel, up 2% on the day.
ECOFIN meeting all day, CAD Employment change at 1:30 pm and US China trade talks in the afternoon are the important news on the agenda Friday. (all times GMT).
| Global Markets 24 hours wrap-up | ||||||
|---|---|---|---|---|---|---|
| Market | GBPUSD | USDJPY | EURJPY | EURUSD | GOLD | OIL |
| 10.10.19 | 2.09% | 0.44% | 0.76% | 0.32% | -1.01% | 2.01% |
| USDMXN | USDCHF | AUDUSD | AUDJPY | USDCAD | Silver | Nat Gas |
| -0.43% | 0.14% | 0.54% | 0.98% | -0.3% | -1.43% | -0.86% |
| Dollar Index | DAX | FTSE100 | CAC40 | EURSXX50 | NIKKEI225 | CSI300 |
| -0.42% | 0.58% | 0.28% | 1.27% | 0.92% | 1.14% | 0.75% |
| 1 YEAR | 3.86% | 2.56% | 9.06% | 8.88% | -3.51% | 24.67% |
| Swing report | ||||||
|---|---|---|---|---|---|---|
| TRADE | ENTRY PRICE | POSITION | OPEN PROFIT | DATE TRIGGERED | STOP LOSS | UPDATES |
| GBPUSD | 2451 | 1 | 30 | 11/10 | 2420 | new position |
| OIL | 53.94 | 12 | 210 | 11/10 | 53.5 | new position |
| GOLD | 1502 | 50 | -230 | 8/10 | 1498 | stopped out |
| USDDKK | 6.803 | 0.8 | -206 | 8/10 | 6.786 | stopped out |
| OPEN PROFIT | $240 | |||||
BIG 2% move on GBPUSD following potential BREXIT deal, “bull flag” long trade triggered.
Oil higher from 4 week lows on OPEC expected production cuts and US China trade optimism.
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