Currencies
- The euro climbed from 1.3601 up to 1.3646 yesterday against the dollar. The single currency reached a weekly high as FOMC Meeting minutes kept a dovish tone in a statement that was lacking of any large surprises.
-
The dollar advanced up to 101.85 before retracing back to 101.51 against the Japanese yen after the FOMC Meeting minutes, as Fed didn’t show signs of increasing the interest rates earlier than expected. The US unemployment data will be announced at 12:30 GMT, with expectations at 316K unemployed individuals.
Equities
-
European equities remain under pressure as, the DAX closed at 9823, the EU Stocks 50 (ESX) closed at 3206 and the France 40 at 4364.
Commodities
-
Corn reached four 4-year low at 3.88 USD per bushel as the US which is the biggest exporter will boost global stockpiles.
Mover & Shaker with FX Options
-
The pound rose up to 1.7166 against US dollar (USD) and is approaching near its 6-year high. The UK Official Bank Rate will be announced today, as UK is heading towards better economy.
- Option traders may consider constructing a Long Straddle on the GBP/USD and gain if the pair moves in either direction, while the risk is limited to the premium paid.
- A Long Straddle can be constructed by buying an at the money Put and an at the money Call.
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.