Currencies
- The euro (EUR) reached its one year low at 1.3118 against the US dollar (USD). The single currency remains under pressure as he US Economy shows signs of recovering. The European Manufacturing PMI are on the calendar with expectations at 50.8.
- Gold (XAU) declined from its high at 1296 down to 1283 US dollars per troy ounce on Friday. There are a lot of talks regarding Ukraine, thus the precious metal remains fragile while the metal is now trading around the level of 1287.
Equities
- The European Indices advanced on Friday with the Germany 30 (DAX) rose up to 9470, the France 40 (CAC) increased from 4335 up to 4388 and UK 100 (FTS) climbed from 6776 to 6823.
Commodities
- WTI Crude (OIL) completed its rally and climbed up to 95.98 US dollars per barrel. There is a demand for the energy as the US economy is growing, which is the biggest worldwide consumer.
Mover & Shaker with forex options
- The British Pound (GBP) dropped from its weekly high at 1.6612 back to 1.6561 before the rebound back to 1.6594 against the US Dollar (USD) on Friday. The sterling is very volatile as the UK Manufacturing PMI, due at 08:30 GMT, may set a new direction for the pair.
- Option traders may consider constructing a Long Straddle on the GBPUSD and gain if the pair moves in either direction, while the risk is limited to the premium paid.
- A Long Straddle can be constructed by buying an at the money Call and Put.
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Editors’ Picks
EUR/USD alternates gains with losses near 1.0720 post-US PCE
The bullish tone in the Greenback motivates EUR/USD to maintain its daily range in the low 1.070s in the wake of firmer-than-estimated US inflation data measured by the PCE.
GBP/USD clings to gains just above 1.2500 on US PCE
GBP/USD keeps its uptrend unchanged and navigates the area beyond 1.2500 the figure amidst slight gains in the US Dollar following the release of US inflation tracked by the PCE.
Gold keeps its daily gains near $2,350 following US inflation
Gold prices maintain their constructive bias around $2,350 after US inflation data gauged by the PCE surpassed consensus in March and US yields trade with slight losses following recent peaks.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.