Currencies
- The euro (EUR) climbed from 1.2730 all the way up to 1.2824 against the US dollar (USD). The euro gained momentum as investors anticipate that the Fed may delay increase the interest rates due to slow global recovery.
- The US dollar (USD) slid from its high at 107.38 down to 106.24 against the Japanese yen (JPY). The yen rose as Asian stocks declined and investors are shifting towards safer assets.
Equities
- Asian equities fell yesterday as market participants are weighting the slow Chinese economic data and the US corporate earnings. The Japan 255 (NKI) slid from 15208 down to 14787 while the China 50 (CNX) is now trading around 7160.
Commodities
- Corn (CRN) rebounded from its four year low at 341 up to 349 US dollars per Bushel as dry weather may reduce the supply of the commodity.
Mover & Shaker with forex options
- Gold (XAU) continues its rally and skyrocketed from 1234 up to 1250 US dollars an ounce since yesterday The precious metal headed for gains as market participants assess the recovery of the global economy along with the timing of rising interest rates in US.
- Option traders may consider purchasing a CALL on XAUUSD and gain if the pair continues the upside, while the risk is limited to the premium paid.
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Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.