Currencies
- The euro (EUR) is looking at maintaining its support above 1.3500 after the single currency gained more than 200 pips after the Fed statement on Wednesday.
- The US dollar (USD) has managed to regain the lost ground against the Japanese yen (JPY) as the pair moved above 99.30 from a low of 97.80 a few days ago.
Equities
- The GER 30 (DAX) completed a three year high at 8777 before correcting down to 8686. European equities were strongly pushed by on-going monetary stimulus from the US as fresh money is looking at channels to flow.
Commodities
- Brent Oil (BRT) has found support at 108.67 from yesterday’s high at 111.00. Look for further downside should it move below 108.00.
Mover & Shaker with FX Options
- The British pound (GBP) has retraced after its spike on Wednesday and has found solid support at 1.6000 against the dollar. Look ahead for public sector net borrowing that could be a mover for the pair this morning.
- Options traders are looking at retaining their gains on the sterling buy buying at the money Put options. This way, should the pair move lower again they stand to profit from the downside to counter their losses on the spot market, while if the market moved higher they will gain spot and only lose their premium on the option.
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