Currencies
- The euro (EUR) reached its one year low at 1.3118 against the US dollar (USD). The single currency remains under pressure as he US Economy shows signs of recovering. The European Manufacturing PMI are on the calendar with expectations at 50.8.
- Gold (XAU) declined from its high at 1296 down to 1283 US dollars per troy ounce on Friday. There are a lot of talks regarding Ukraine, thus the precious metal remains fragile while the metal is now trading around the level of 1287.
Equities
- The European Indices advanced on Friday with the Germany 30 (DAX) rose up to 9470, the France 40 (CAC) increased from 4335 up to 4388 and UK 100 (FTS) climbed from 6776 to 6823.
Commodities
- WTI Crude (OIL) completed its rally and climbed up to 95.98 US dollars per barrel. There is a demand for the energy as the US economy is growing, which is the biggest worldwide consumer.
Mover & Shaker with forex options
- The British Pound (GBP) dropped from its weekly high at 1.6612 back to 1.6561 before the rebound back to 1.6594 against the US Dollar (USD) on Friday. The sterling is very volatile as the UK Manufacturing PMI, due at 08:30 GMT, may set a new direction for the pair.
- Option traders may consider constructing a Long Straddle on the GBPUSD and gain if the pair moves in either direction, while the risk is limited to the premium paid.
- A Long Straddle can be constructed by buying an at the money Call and Put.
Recommended Content
Editors’ Picks
USD/JPY jumps above 156.00 on BoJ's steady policy
USD/JPY has come under intense buying pressure, surging past 156.00 after the Bank of Japan kept the key rate unchanged but tweaked its policy statement. The BoJ maintained its fiscal year 2024 and 2025 core inflation forecasts, disappointing the Japanese Yen buyers.
AUD/USD consolidates gains above 0.6500 after Australian PPI data
AUD/USD is consolidating gains above 0.6500 in Asian trading on Friday. The pair capitalizes on an annual increase in Australian PPI data. Meanwhile, a softer US Dollar and improving market mood also underpin the Aussie ahead of the US PCE inflation data.
Gold price flatlines as traders look to US PCE Price Index for some meaningful impetus
Gold price lacks any firm intraday direction and is influenced by a combination of diverging forces. The weaker US GDP print and a rise in US inflation benefit the metal amid subdued USD demand. Hawkish Fed expectations cap the upside as traders await the release of the US PCE Price Index.
Stripe looks to bring back crypto payments as stablecoin market cap hits all-time high
Stripe announced on Thursday that it would add support for USDC stablecoin, as the stablecoin market exploded in March, according to reports by Cryptocompare.
US economy: Slower growth with stronger inflation
The US Dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.