Currencies
- The euro (EUR) rebounded from its two year low at 1.2358 up to 1.2444 against the US dollar (USD). The euro gained a part of its losses after the German Ifo Business Climate unexpectedly increased for the first time since April, boosting hopes for recovery.
- The British Pound (GBP) rose around 100 pips and climbed up to 1.5713 against the US dollar (USD). The BoE kept the interest rates at record lows but remain higher than the interest rates in Japan and Europe. The sterling may be seen higher against a basket of currencies.
Equities
- The European stocks are on a rally, with the Germany 30 (DAX) trades near its 2 month high at 9832, the EU stocks (ESX) climbed up to 3233 and France 40 (CAC) rose up to 4390.
Commodities
- WTI Crude (OIL) fell from its high at 77.80 down to 75.44 US dollars per barrel. OPEC meets this Thursday and is considering to exempt three members from a reduction in production.
Mover & Shaker with forex options
- The US dollar (USD) skyrocketed against the Canadian dollar (CAD) and reached its high at 1.1311. The loonie lost is momentum ahead of the Monthly Canadian Core Retail Sales due at 13:30 GMT and the expectations are on 0.4%.
- Option traders may consider buying a CALL on the USDCAD and gain if the pair moves higher, while the risk is limited to the premium paid.
Recommended Content
Editors’ Picks
EUR/USD falls back toward 1.1150 as US Dollar rebounds
EUR/USD is falling back toward 1.1150 in European trading on Friday, reversing early gains. Risk sentiment sours and lifts the haven demand for the US Dollar, fuelling a pullback in the pair. The focus now remains on the Fedspeak for fresh directives.
GBP/USD struggles near 1.3300 amid renewed US Dollar demand
GBP/USD is paring back gains to trade near 1.3300 in the European session. The data from the UK showed that Retail Sales rose at a stronger pace than expected in August, briefly supporting Pound Sterling but the US Dollar comeback checks the pair's upside. Fedspeak eyed.
Gold hits new highs on expectations of global cuts to interest rates
Gold (XAU/USD) breaks to a new record high near $2,610 on Friday on heightened expectations that global central banks will follow the Federal Reserve (Fed) in easing policy and slashing interest rates.
Pepe price forecast: Eyes for 30% rally
Pepe’s price broke and closed above the descending trendline on Thursday, eyeing for a rally. On-chain data hints at a bullish move as PEPE’s dormant wallets are active, and the long-to-short ratio is above one.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.