Currencies
- The euro dropped against the dollar to 1.3525. The single currency is under pressure as today the yearly EU CPI will be announced while expectations lie at 0.5%.
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The dollar fell towards 101.51 against the yen. The US Unemployment and Philly Fed Manufacturing Index is coming ahead with expectations of 310K and 15.6 respectively.
Equities
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European equities advanced yesterday. The DAX went to 9862, the EURO STOXX 50 (FSTX) to 3201 and the FTSE France to 4368.
Commodities
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Palladium is edging higher while it reached a 13-year high at 876.70 as demand for the safe haven increases.
Mover & Shaker with FX Options
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Gold rose to 1300 as the demand of the precious metal in China and India, the largest consumers in the world, increased because of the lower price.
- Option traders may consider constructing a Back Spread Strategy with Calls on the XAU/USD and gain if the pair moves higher, while the risk is limited to the premium paid.
- A Back Spread Strategy with Calls can be constructed by selling an at the money Call while buying an out of the money Call at double amount.
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.