Currencies
- The euro (EUR) dropped from its high at 1.3536 back to 1.3472 against the US dollar (USD). Nevertheless, the euro remains strong and we may see a rebound today, especially if Mr Mario Draghi has a hawkish tone on his speech scheduled at 09:00 GMT.
- The US dollar (USD) weakened against the Japanese yen (JPY) and is now trading around 98.70. The yen climbed as investors are uncertain about the fiscal situation in the US. As a result, in the near term we may see a stronger yen.
Equities
- The US Tech (NDQ) rebounded from its weekly low at 3195 all the way up to 3234. The index appears to be at its highs and it looks that may continue the upside.
Commodities
- Crude Oil (WTI) is trading around its six week low at 102.50 US dollars per barrel. The oil price retraced back to the level it was before the rumors that the US will intervene in Syria. Five members of the UN agreed to eliminate Syria’s chemical weapons.
Mover & Shaker with FX Options
- The US dollar (USD) climbed to a two week high at 1.0339 against the Canadian dollar (CAD). The loonie is under pressure after reports showed a growth in the US, the nation’s biggest export.
- Option traders can purchase at-the-money CALLs as expectations show that the pair may continue the upside for a while, with the risk limited to the premium paid.
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