Currencies
- The euro (EUR) failed to break above its resistance at 1.2900 and retraced back to 1.2838 against the US dollar (USD). The single currency rebounded from its yearly low as there are signals of uneven US economic recovery, adding speculation that the Fed may not rise interest rates until mid of 2015.
- The US dollar (USD) slashed down to 108.24 against the Japanese yen (JPY). The yen gains as US conducts the first airstrikes against Syria and US home sales came out worse than expected yesterday. Thus, demand for safe haven assets rises.
Equities
- The European indices dropped significantly as health care companies fell and any additional American tax rules may erode their takeover. Highlighting the major European indices, with the Germany 30 (DAX) dropped down to 9571, the UK 100 (FTS) declined to 6618 and the EU Stocks 50 (ESX) tumbled to 3188.
Commodities
- WTI Crude (OIL) gained ground and climbed from 90.76 all the way up to 92.07 US dollars per barrel. The energy price increase as crude oil inventories due at 14:30 GMT with expectations at only 0.7 Million barrels held of stockpiles.
Mover & Shaker with forex options
- Gold (XAU) skyrocketed from its low at 1214 all the way up to 1236 US dollars an ounce. Gold hold gains as tensions in the Middle East are rising, dumbing demand for the precious metal. The metal is now trading around 1223 and Option Traders may consider purchasing a Call on XAUUSD and gain if the pair rises due to the geopolitical tensions, while the risk is limited to the premium paid.
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