Currencies
- The euro (EUR) climbed from 1.2730 to 1.2630 yesterday against the US dollar (USD) The investors and analysts in Germany are pessimism about the future economy as the Germany ZEW Economy Sentiment came out to be at -3.6, while expectations were at 0.2. The European Industrial Production were also worse than expected as it drop by -1.8%, while the expectations were to drop by -1.5%. Today the President of European Central Bank Mario Draghi will speak at the European Cultural Days 2014 in Frankfurt and might reveal some hints about any additional future stimulus measurements.
- The US dollar (USD) climbed to 12-months high at 40.9632 against the Russian Ruble (RUB) as inflation data came out to be at 1.2% increase, while the expectations were at 1.4% increase. Today the UK 3-month Average Earnings Index will be announced along with Claimant Count Change, with expectations at 0.7% and -34.2K respectively.
Equities
- Asian equities gained, following disappointing European economic data. The Japan 225 (NKI) advanced to 15082, the Hong Kong 50 (HSX) rose to 23110, the China 50 (CNX) went to 7154 and the India 50 (IND) to 7945.
Commodities
- WTI Crude (OIL) plunges to a two year low at 81.32 USD per barrel as the demand for oil is in its slowest pace in five years.
Mover & Shaker with forex options
- British pound (GBP) crashed to 1.5888 yesterday against the US dollar (USD) as inflation data came out to be at 1.2% increase, while the expectations were at 1.4% increase. Today the UK 3-month Average Earnings Index will be announced along with Claimant Count Change, with expectations at 0.7% and -34.2K respectively.
- Option traders may consider buying a Put on the GBPUSD and gain if the pair moves lower, while the risk is limited to the premium paid.
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Editors’ Picks
USD/JPY holds positive ground around 151.50 following Japanese CPI data
The USD/JPY pair holds positive ground for the second consecutive day near 151.45 on Friday during the early Asian trading hours. The cautious approach from the Bank of Japan to keep monetary conditions accommodative exerts some selling pressure on the Japanese Yen.
AUD/USD depreciates on risk aversion amid a stronger US Dollar
AUD/USD extends its losses for the second successive session on Friday. However, market activity is expected to be subdued due to light trading on Good Friday. Meanwhile, the US Dollar strengthens as recent data indicates annualized economic expansion in the United States, driven by consumer spending.
Gold price finishes Thursday’s session set to reach new all-time highs
Gold price rallied during the North American session on Thursday and hit a new all-time high of $2,225 in the mid-North American session. Precious metal prices are trending higher even though US Treasury yields are advancing, underpinning the Greenback.
Top 3 Price Prediction BTC, ETH, XRP: Retail watches from the sidelines with a bias for shorts
Bitcoin is showing strength as markets head into the Easter holidays. As it rises, altcoins are following suit, with Ethereum and Ripple posting almost similar gains. Meanwhile, there remains an unfilled CME Gap, with a lot of liquidity also resting above and below BTC price.
Bears have been standing before a steamroller so far this year
Despite a pushback on rate cuts from Christopher Waller, and what was supposed to be cautious trading sentiment ahead of critical US inflation data released later on Friday, the S&P 500 rose on Thursday, marking its best first-quarter performance in five years.