Currencies
- The euro (EUR) formed a new support at 1.2465 against the US dollar (USD), as it is now trading around 1.2450. The single currency remains fragile as the ECB Press conference will be held this week and market participants anticipate further stimulus measures by the central bank.
- The US dollar (USD) break above 119.00 against the Japanese yen (JPY) and reached a new 7-year high. The yen depreciates even further ahead of a volatile week. Better than expected news coming out from the US may push the pair towards higher highs.
Equities
- The US 500 (S&P 500) climbed up to 2072 before the dive down to 2055 as Oil prices plunged, whereas the US Tech (NASDAQ) climbed up to 4347 and reached a new record high, driven on by the Black Friday.
Commodities
- WTI Crude (OIL) continues the downside as it reached a new 5-year low at 64.06 US dollars per barrel. OPEC was not able to take any decision to reduce production and Crude Oil dropped more than 12 US dollars from last week.
Mover And Shaker With Forex Options
- Gold (XAU) collapsed down to 1142 US dollars an ounce, as it lost another 25 US dollars on the opening of the markets. The precious metals tumbled as Swiss voters rejected the plan to extend its gold purchases. Now, the main driver of the metal is the strong US dollar and Fed’s decisions.
- Option traders may consider buying a Put on the XAU/USD and gain if the pair moves lower, while the risk is limited to the premium paid.
Disclaimer: Forex, Commodities, Options and CFDs (OTC Trading) are leveraged products that carry a substantial risk of loss up to your invested capital and may not be suitable for everyone. Please ensure that you fully understand the risks involved and do not invest money you cannot afford to lose. Please refer to our full risk disclaimer.