Currencies
- The euro (EUR) collapsed from 1.2569 down to 1.2319 against the US dollar (USD). The single currency dropped after Janet Yellen stated that interest rates will rise gradually next year while expressing her concerns about the economy.
- The US dollar (USD) skyrocketed from its monthly low at 115.55 all the way up to 119.00 against the Japanese yen (JPY), on yesterday’s session. The greenback strengthens across the board after the FOMC statement, erasing yen’s previous gains.
Equities
- The US equities erased part of their previous losses as Fed indicates economic growth in the US. The US 500 (SPI) advanced up to 2010, the US 30 (DOW) rose up to 17324 and the US Tech (NDQ) increased to 4172.
Commodities
- During this weekly session, Natural Gas (NGS) declined from 3.928 down to 3.600 US dollars per mmBTU, as investors sold the commodity due to mild weather in US. On the calendar, the Natural Gas storage will be revealed today at 15:30 GMT with expectations at -61 Billion cubic feet held in the underground storage.
Mover & Shaker with forex options
- The British Pound (GBP) slid more than 200 pips and dropped down to 1.5541 against the US dollar (USD). The cable driven by Fed’s statement trades near its yearly low ahead of UK monthly Retail Sales due at 09:30 GMT.
- Option traders may consider buying a Put on the GBPUSD and gain if the pair moves lower, while the risk is limited to the premium paid.
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Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.