Currencies
- The euro (EUR) recorded a new 11-month low at 1.3178 against the US dollar (USD). The pair fell as the German Ifo Business Climate index came out less than expected, at 106.3, while the expected was at 107.1.
- The US dollar (USD) fell down to 103.88 against the Japanese yen (JPY), as the US New Home Sales were less than expected at 412K, while the expected sales were at 426K. Today the US monthly Core Durable Goods Orders and the US CB Consumer Confidence will be announced and are expected to rise by 0.5% and 89.1 respectively.
Equities
- US equities gained yesterday with the US 500 (SPI) reached for first time 2000 while the US 30 (DOW) and the US Tech (NDQ) recorded new high at 17100 and 4078.
Commodities
- WTI Crude (OIL) remained range bound to 93.50 USD per barrel before the supply data announcement on Wednesday.
Mover & Shaker with forex options
- The British Pound (GBP) rose up to 1.6597 against the US dollar (USD), after the bad home sales data from the US.
- Option traders may consider constructing a Back Spread Strategy with Puts on the GBPUSD and gain if the pair moves lower, while the risk is limited to the premium paid.
- A Back Spread Strategy with Puts can be constructed by selling an at the money Put while buying an out of the money Put at double amount.
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Editors’ Picks
EUR/USD consolidates weekly gains above 1.1150
EUR/USD moves up and down in a narrow channel slightly above 1.1150 on Friday. In the absence of high-tier macroeconomic data releases, comments from central bank officials and the risk mood could drive the pair's action heading into the weekend.
GBP/USD stabilizes near 1.3300, looks to post strong weekly gains
GBP/USD trades modestly higher on the day near 1.3300, supported by the upbeat UK Retail Sales data for August. The pair remains on track to end the week, which featured Fed and BoE policy decisions, with strong gains.
Gold extends rally to new record-high above $2,610
Gold (XAU/USD) preserves its bullish momentum and trades at a new all-time high above $2,610 on Friday. Heightened expectations that global central banks will follow the Fed in easing policy and slashing rates lift XAU/USD.
Pepe price forecast: Eyes for 30% rally
Pepe’s price broke and closed above the descending trendline on Thursday, eyeing for a rally. On-chain data hints at a bullish move as PEPE’s dormant wallets are active, and the long-to-short ratio is above one.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
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