Currencies
- The euro (EUR) slid from its high at 1.2839 all the way down to 1.2706 against the US dollar (USD). The single currency lost all previous day’s gains on speculation that the ECB may add corporate bond purchases to its monetary easing measures.
- The US dollar (USD) skyrocketed from 0.9397 up to 0.94961 against the Swiss Franc (CHF). The swiss franc lost almost 100 pips as the Swiss National Bank (SNB) is ready to take any necessary measures in order to support the national currency.
Equities
- The UK 100 (FTS) continues the upside as it climbed from its previous week low at 6041 up to 6369. The index advanced by 1.68% as travel companies gains.
Commodities
- Copper (CPR) climbed up to 3.033 US dollars per Pound ahead of the Chinese Manufacturing PMI as China is the biggest consumer of industry metals.
Mover & Shaker with forex options
- The US dollar (USD) declined by around 100 pips and reached the level of 1.1201 against the Canadian dollar (CAD) yesterday. The loonie gained momentum as the Canadian monthly Core Retail Sales are in the calendar, due at 12:30 GMT, with expectations at 0.2% and ahead of the BOC Press Conference schedules at 15:15 GMT.
- Option traders may consider purchasing a PUT on USDCAD and gain if the pair continues the bearish momentum, while the risk is limited to the premium paid.
Recommended Content
Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.