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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Gold (XAU) collapsed from its three week high at 1331 down to 1289 US dollars an ounce. The precious metal looks driven by the US economic data and also by the situation in Ukraine.
Equities
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The European stocks fell as Russian troops entered into Ukraine. The EU Stocks 50 (ESX) fell from 3080 down to 3011 and France 40 (CAC) dropped from 4401 down to 4263.
Commodities
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The WTI Crude (OIL) rebounded from its weekly low at 102.93 up to 104.02 US dollars per barrel. The energy rose as the US Crude Oil Inventories are due to release at 14:30 GMT with forecasts of only 1.3 Million barrels held in inventory.
Mover & Shaker with FX Options
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The US dollar (USD) made a rally yesterday and rose almost 80 pips against the Japanese yen (JPY). The US dollar erased part of previous week’s losses and climbed from 101.49 all the way up to 102.25, as the tensions in Ukraine are escalating and investors are shifting towards haven assets.
- Options traders may consider constructing a Bull Call Spread on USDJPY as the pair may continue its rally.
- 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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EUR/USD extends gains above 1.0700, focus on key US data
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USD/JPY keeps pushing higher, eyes 156.00 ahead of US GDP data
USD/JPY keeps breaking into its highest chart territory since June of 1990 early Thursday, recapturing 155.50 for the first time in 34 years as the Japanese Yen remains vulnerable, despite looming intervention risks. The focus shifts to Thursday's US GDP report and the BoJ decision on Friday.
Gold closes below key $2,318 support, US GDP holds the key
Gold price is breathing a sigh of relief early Thursday after testing offers near $2,315 once again. Broad risk-aversion seems to be helping Gold find a floor, as traders refrain from placing any fresh directional bets on the bright metal ahead of the preliminary reading of the US first-quarter GDP due later on Thursday.
Injective price weakness persists despite over 5.9 million INJ tokens burned
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