Currencies
- The euro (EUR) rose from 1.2858 to 1.2940 against the US dollar (USD). The single currency recorded its biggest gain since July after hitting a new 14-month low. Today the French monthly Industrial Production will be announced with expectations to drop by 0.4%.
- The US dollar (USD) rose to a new 6-year high against the Japanese yen (JPY) at 106.45. The Japanese yen fell as the monthly Core Machinery Orders were worse than expected at 3.5% while the expectations were at 4.1%.
Equities
- US equities fell yesterday while US Tech (NDQ) rose near its all-time high at 4110, as Apple revealed their new products, before retraced back to 4052. The US 500 (SPI) dropped to 1983 and the US 30 (DOW) went to 16983.
Commodities
- Gold (XAU) fell to a three-month low yesterday at 1247 as investors seek for riskier assets rather than the safe haven.
Mover & Shaker with forex options
- The Australian Dollar (AUD) crashed against the US dollar (USD) to 0.9159, as it dropped below the 200-day moving average while the NAB Business Confidence dropped from 10 to 8. Aussie is still under pressure as the Australian Unemployment Rate and the Employment change will be announced with expectations lying at 6.3% and 15.2K new jobs.
- Option traders may consider constructing a Back Spread Strategy with Puts on the AUDUSD 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 Puts while buying an out of the money Puts at double amount.
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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.