Currencies
- The euro (EUR) continued its drop against the US dollar (USD) and reached its new low at 1.3807. The single currency fell as Mario Draghi stated during the weekend that the appreciation of the euro may indicate further monetary stimulus.
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The Australian dollar (AUD) slid from its five month high at 0.9425 down to 0.9385 against the US dollar (USD). The aussie fell after the RBA’s meeting repeated that interest rates are on hold.
Equities
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The US stocks rebounded erasing all their losses with the US 30 (DOW) rose from its low at 15858 up to 16100 and the US 500 (SPI) advanced from 1802 all the way up to 1827.
Commodities
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Wheat (WHT) skyrocketed from its low at 656.20 all the way up to 685.70 US dollars per bushel. The commodity rose as the tensions in Ukraine are escalating and there is concern that the supply may be disrupted
Mover & Shaker with FX Options
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Gold (XAU) declined from its three week high at 1331 down to 1318 US dollars an ounce. The precious metal fell as investors assess the improvement of the US economy awaiting for the US monthly CPI to come out at 12:30 GMT.
- Gold found support at 1318 and may continue its previous rally and options traders may consider constructing a Bull Call Spread on XAUUSD.
- A bull call spread can be constructed by purchasing an at-the-money Call and selling an out-of-the-money Call.
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