Currencies
- The euro (EUR) climbed from 1.2730 all the way up to 1.2824 against the US dollar (USD). The euro gained momentum as investors anticipate that the Fed may delay increase the interest rates due to slow global recovery.
- The US dollar (USD) slid from its high at 107.38 down to 106.24 against the Japanese yen (JPY). The yen rose as Asian stocks declined and investors are shifting towards safer assets.
Equities
- Asian equities fell yesterday as market participants are weighting the slow Chinese economic data and the US corporate earnings. The Japan 255 (NKI) slid from 15208 down to 14787 while the China 50 (CNX) is now trading around 7160.
Commodities
- Corn (CRN) rebounded from its four year low at 341 up to 349 US dollars per Bushel as dry weather may reduce the supply of the commodity.
Mover & Shaker with forex options
- Gold (XAU) continues its rally and skyrocketed from 1234 up to 1250 US dollars an ounce since yesterday The precious metal headed for gains as market participants assess the recovery of the global economy along with the timing of rising interest rates in US.
- Option traders may consider purchasing a CALL on XAUUSD and gain if the pair continues the upside, while the risk is limited to the premium paid.
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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.