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Markets Reflect Search For Diplomatic Solution To Syria

ByEasy Forex
Published 09/11/2013, 03:41 AM
Updated 03/09/2019, 08:30 AM
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Currencies

The euro is range bound between 1.3225 and 1.3285 against the US dollar. The single currency rebounded and returned back to gains, after reaching a two month low at 1.3104 during the previous week. It looks that the euro is searching for more indicators to break higher.

The US dollar made a rally during yesterday’s session breaking the major resistance at 100.00 against the Japanese yen . The yen fell to its lowest level since July, after the US President’s decision to delay a military strike over Syria.

Mover & Shaker with FX options
The British pound skyrocketed more than 180 pips against the US dollar within two days. The bullish pound reached a four month high at 1.5743 against the greenback. Today, all eyes are on the UK Jobless claims due at 8:30 GMT, where forecasts show a further reduction of unemployment claims by 21K. It looks that the British economy is recovering and the Cable is strengthening. Therefore, option traders can benefit from the upside by purchasing short term CALLs.

Equities
The US stocks returned back to gains, after a diplomatic solution found for Syria and Barack Obama postpone a vote for a military strike. Thus, the US 500 ((SPI)) and US Tech ((NDQ)) reached new highs at 1,683 and 3,188 respectively.

Commodities
WTI Crude (OIL) has reversed its bullish trend moving towards lower lows. The crude oil fell to 106.40 from last week’s high at 111.13.


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.

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