Currencies
- The euro (EUR) recorded a new 11-month low at 1.3178 against the US dollar (USD). The pair fell as the German Ifo Business Climate index came out less than expected, at 106.3, while the expected was at 107.1.
- The US dollar (USD) fell down to 103.88 against the Japanese yen (JPY), as the US New Home Sales were less than expected at 412K, while the expected sales were at 426K. Today the US monthly Core Durable Goods Orders and the US CB Consumer Confidence will be announced and are expected to rise by 0.5% and 89.1 respectively.
Equities
- US equities gained yesterday with the US 500 (SPI) reached for first time 2000 while the US 30 (DOW) and the US Tech (NDQ) recorded new high at 17100 and 4078.
Commodities
- WTI Crude (OIL) remained range bound to 93.50 USD per barrel before the supply data announcement on Wednesday.
Mover & Shaker with forex options
- The British Pound (GBP) rose up to 1.6597 against the US dollar (USD), after the bad home sales data from the US.
- Option traders may consider constructing a Back Spread Strategy with Puts on the GBPUSD and gain if the pair moves lower, while the risk is limited to the premium paid.
- A Back Spread Strategy with Puts can be constructed by selling an at the money Put while buying an out of the money Put at double amount.
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Editors’ Picks
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.