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Oil Volatility Down After Syria Developments Calm Markets

ByEasy Forex
Published 09/12/2013, 03:33 AM
Updated 03/09/2019, 08:30 AM
CL
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Currencies

The euro moved higher against a weaker US dollar. The single currency has found resistance at 1.3323 after bottoming out last week at 1.3100.
The US dollar could not maintain the 100 level against the Japanese yen. The greenback slid to 99.47 amid fears that the US Economy may not be strong enough to sustain tapering of monetary stimulus next week. Look ahead at unemployment claims this afternoon expected at 332K .
Mover & Shaker with FX options
The US dollar has been correcting a bearish trend against the Canadian dollar rising from 1.0304 to 1.0323. Taking into consideration the strong bearish features, many traders will be looking at taking this opportunity to increase their short positions.
Options traders have picked up on increasing volatility in the pair. To protect against a sudden reversal in the bearish trend, they have increased their Call positions.
Equities
European equities were bullish as the UK 100 (FTS) closed at 6590. The index has been testing a support at 6559 before reversing upwards.

Commodities
As developments over Syria reduce the potential of an imminent strike, crude oil prices stabilize with the price of a barrel of WTI Crude at 107.57, down from 111.10 a few days ago.


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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