Currencies
- The euro (EUR) commenced this week’s trading with a drop to 1.2665, recording a new 23-month low, against the US dollar (USD). The single currency remains under pressure as the German monthly Preliminary CPI will be announced today and is expected to drop by 0.1%.
- The US dollar (USD) reached a new six-year high against the Japanese yen (JPY) at 109.65 earlier in the morning. The greenback carries on strengthening as US economy seems to recovering faster. Today, the monthly US Pending Home Sales will be announced and they are expected to drop by 0.4%.
Equities
- US equities dropped on Friday as investors snapped up profits before third quarter closes. The US 500 (SPI) fell to 1970; the US 30 (DOW) went to 16983 and the US Tech (NDQ) to 4037.
Commodities
- WTI Crude (OIL) fell to 92.94, as concern about the oil supply because of Middle-East trouble eased.
Mover & Shaker with forex options
- Euro (EUR) appeared range bound around its lowest point since July 2014 against British pound (GBP). Pound strengthened as Carney stated that a rise in UK interest rates is getting closer. Today, the number of new UK Mortgage Approvals will be announced with expectations at 66K.
- Option traders may consider buying a Put on the EURGBPand gain if the pair moves lower, while the risk is limited to the premium paid.
Recommended Content
Editors’ Picks
EUR/USD fluctuates near 1.0700 after US data
EUR/USD stays in a consolidation phase at around 1.0700 in the American session on Wednesday. The data from the US showed a strong increase in Durable Goods Orders, supporting the USD and making it difficult for the pair to gain traction.
USD/JPY refreshes 34-year high, attacks 155.00 as intervention risks loom
USD/JPY is renewing a multi-decade high, closing in on 155.00. Traders turn cautious on heightened risks of Japan's FX intervention. Broad US Dollar rebound aids the upside in the major. US Durable Goods data are next on tap.
Gold keeps consolidating ahead of US first-tier figures
Gold finds it difficult to stage a rebound midweek following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% after US data, not allowing the pair to turn north.
Worldcoin looks set for comeback despite Nvidia’s 22% crash Premium
Worldcoin price is in a better position than last week's and shows signs of a potential comeback. This development occurs amid the sharp decline in the valuation of the popular GPU manufacturer Nvidia.
Three fundamentals for the week: US GDP, BoJ and the Fed's favorite inflation gauge stand out Premium
While it is hard to predict when geopolitical news erupts, the level of tension is lower – allowing for key data to have its say. This week's US figures are set to shape the Federal Reserve's decision next week – and the Bank of Japan may struggle to halt the Yen's deterioration.