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Lower Libyan Oil Output Pushes Energy Prices Higher

ByEasy Forex
Published 09/03/2013, 05:43 AM
Updated 03/09/2019, 08:30 AM
GC
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Currencies

The euro has retreated to 1.3179. The expectation for the EU GDP is that the currency union has expanded its GDP by 0.3%. Look ahead for Spanish unemployment this morning for hints as to where the single currency could be headed.
A stronger US dollar (USD) has climbed up to 99.56 against the Japanese yen (JPY). The yen weakened against a basket of currencies as the Bank of Japan is expanding the monetary base the most in 40 years. Look ahead for resistance at 99.65.


Mover & ShakeThe Swiss National Bank’s president, Thomas Jordan, has confirmed that the Swiss franc’s ceiling will remain at 1.20 against the euro as long as monetary conditions. The pair has moved above 1.2332 in early trading and has been rising ever since the fears of a war in Syria have momentarily been subdued
FX OptionsAs Non-Farm Payrolls (NFP) are due to be released this Friday, gold traders are using options strategies to capitalise on the metals volatile movement. To minimise costs, traders are buying as well as selling out of the money to create bull and bear spreads.
EquitiesThe UK 100 (FTS) is moving higher after touching 6515. Look for further potential upside as investors weigh in developments in equities such a s Vodafone and Microsoft. As well as positive Chinese data.
CommoditiesBrent Crude (BRT) has risen to 114.3 from 112.2 yesterday as commodities push higher, lower Libyan oil output pushes supply levels lower.

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