Currencies
- The euro (EUR) collapsed and reached its lowest level since January at 1.3500 against the US dollar (USD). The single currency continues its bearish momentum, on speculation that the Federal Reserve may increase the interest rates by the middle of 2015.
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The US dollar (USD) traded near its 6 months low last week against the Japanese yen (JPY), while is now trading around 101.20. It looks that investors shift towards haven assets after the crash of the Malaysian airlines on Thursday. Thus the appreciation of the yen.
Equities
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Global indices were hit on Thursday and it looks that they are now recovering, with the US 500 (SPI) rose from 1942 up to 1973, the UK 100 (FTS) increase from 6640 up to 6719 and the Australia (ASX) climbed up to 5503.
Commodities
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WTI Crude (OIL) climbed from its three month low at 99.00 all the way up to 103.90 US dollars per barrel, during the previous week. The energy is strongly correlated with the tensions in Ukraine and Gaza.
Mover & Shaker with FX Options
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Gold (XAU) rose up to 1324 US dollars per ounce on Thursday afternoon after Rebels hit the Malaysian civilian aircraft. The precious metal retraced back to 1310 where is now trading, affected by the strong US dollar.
- Option traders may consider constructing a Long Straddle Strategy on the XAUUSD and gain if the pair moves in either direction, while the risk is limited to the premium paid.
- A Long Straddle Strategy can be constructed by purchasing an at-the-money Call and Put.
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Editors’ Picks
EUR/USD clings to gains near 1.0700, awaits key US data
EUR/USD clings to gains near the 1.0700 level in early Europe on Thursday. Renewed US Dollar weakness offsets the risk-off market environment, supporting the pair ahead of the key US GDP and PCE inflation data.
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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