Currencies
- The euro (EUR) rose earlier this morning against the US dollar (USD) as the ECB stress test for the European banks were better than expected. Only 25 banks failed the test, but few of them need additional. Today the German Ifo Business Climate will be announced and is expected to be at 104.6.
- The US dollar (USD) dropped to 107.94 earlier this morning against the Japanese yen (JPY) as the US economy seems to recover faster than the other economies. The greenback continues to strengthening against most majors peers before FOMC Statement this week. Today the monthly US Pending Home Sales will be announced and is expected to rise by 1.1%..
Equities
- US equities gained on Friday as the drop in oil prices boosting production. The US 500 (SPI) advanced to 1959, the US 30 (DOW) went to 16735 and The US Tech (NDQ) to 4037.
Commodities
- WTI Crude (OIL) fell from 81.84 to 80.34 USD per barrel on Friday as the inventories continue to be very high, while the demand for oil drops.
Mover & Shaker with forex options
- Gold (XAU) dropped from 1244 to 1226 as investors believe that Federal Reserve Bank will stop buying bonds this week, while the European banks passed the stress test, cutting the demand for the safe haven and seeking to invest in more riskier assets.
- Option traders may consider buying a Put on the XAUUSD and gain if the pair moves lower, while the risk is limited to the premium paid.
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AUD/USD holds above 0.6500 in thin trading
The Australian Dollar managed to recover ground against its American rival after AUD/USD fell to 0.6484. The upbeat tone of Wall Street underpinned the Aussie despite broad US Dollar strength and tepid Australian data.
EUR/USD comfortable below 1.0800 lower lows at sight
The EUR/USD pair lost ground on Thursday and settled near a fresh March low of 1.0774. Strong US data and hawkish Fed speakers comments lead the way ahead of the release of the US PCE Price Index on Friday.
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.
Bitcoin price extends retreat from $69K as old whales shift their holdings to new whales
Bitcoin price continues to move further away from the $69,000 threshold, gaining ground as BTC bulls hope for a retest of the $73,777 peak. This is because of the general assumption that clearing this blockade would set the tone for a reach higher, marking a new all-time high.
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.