Currencies
- The euro (EUR) opened lower at 1.3205 this morning against the US dollar (USD) as the European Central Bank (ECB) signalled that there might be more stimulus measures to help growth. The single currency is under pressure as the German Ifo Business Climate will be announced and is expected to be at 107.1
- The US dollar (USD) opened higher at 104.25 against the Japanese yen (JPY).. The greenback continues to be the strongest currency, after the Jackson Hole Symposium, where Janet Yellen increased speculation for an earlier increase in interest rates despite that the labour market still have further to heal before raise interest rates.
Equities
- US equities record new all-time high as the US economy seems to recover faster. The US 500 (SPI) advanced to a record 1994, the US 30 (DOW) climbed to 17048 and the US Tech (NDQ) record high at 4072.
Commodities
- Soybean (SOY) dropped to a 4-year low at 1031.88 USD cents per bushel as US crop supply seen at its highest.
Mover & Shaker with forex options
- Gold (XAU) fell to 1274 before rebounds back to 1280 on Friday after Yellen’s speech on the Jackson Hole Symposium. As volatilities remain low, options buyers are finding bargain strategies to capitalise on market movements.
- Option traders may consider constructing a Straddle on the XAUUSD and gain if the pair moves in either direction, while the risk is limited to the premium paid.
- A Straddle can be constructed by buying an at the money Put and Call.
Recommended Content
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.