Currencies
- The euro (EUR) is on a high of 1.3530 after Fed Chairman, Ben Bernanke, postponed US tapering of asset purchases. There is no hint as to when the US may stop or limit its quantitative easing programme pushing the dollar lower across the board.
- The US dollar (USD) has collapsed against the Japanese yen (JPY) falling to 97.83 before correcting somewhat to 98.24. The sure fact from this decision is that forward guidance in the future has to be taken with a pinch of salt.
- The US 500 (SPI) flew up to 1718 from 1692 as markets price in on-going easing by the Federal Reserve.
- WTI Crude (OIL) has reached a lower high against news on Syria andthe Fed’s decision. The commodity has reached 107.80 from an earlier 104.50.
- Gold (XAU) spiked up to 1362 from 1296 last night. The precious metal saw demand soar as supply of dollars is expected to increase at a steady rate.
- Option traders have been able to minimise losses using Puts on the commodity. Put options allow for controlled risk management should markets move against the trader.