Currencies
- The euro (EUR) range bound between the levels of 1.3710 and 1.3768 against the US dollar (USD). The pair consolidates around the level of 1.3740 and anticipates for more news to come out in order to find its new way.
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The US dollar (USD) collapsed by dropping more than 140 pips from Friday against the Canadian dollar (CAD). The loonie gained ground against the greenback and formed a new support at 1.1053.The US dollar (USD) moved even lower against the Japanese yen (JPY), reaching a new low at 102.00. Yen appreciates against its major peers, as there are concerns that Chinese economy is slowing.
Equities
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The US 500 (SPI) failed to break above its new record high at 1856. The index moved lower after the US consumer confidence declined from previous month.
Commodities
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WTI Crude (OIL) dropped down to 101 US dollars per barrel and reached its weekly low. The US Crude oil inventories are on the calendar for today with the expectations showing 1.1 million barrels held in stockpiles.
Mover & Shaker with FX Options
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Gold (XAU) continued the rally for another day reaching a new high at 1345 US dollars an ounce. The precious metal rose after the US consumer confidence fell more than expected. The US New Home Sales will be released today at 15:00 GMT and anything lower than forecasts may push the metal even higher.
- Options traders may consider constructing a Bull Call Spread on Gold and capture a possible continuation of its bullish trend.
- A Bull Cal spread can be constructed by purchasing an in-the-money Call and selling out-of-the-money Call.
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