Currencies
- The euro (EUR) continues its bullish trend reaching 1.2764 against the US dollar (USD) as monthly US Durable Goods Orders where worse than expected at -0.2% decrease while the expectations were 0.5% increase of orders. The single currency is under pressure as the Federal Reserve will announce the interest rate and is expected to be at 0.25%.
- The US dollar (USD) climbed to 108.18 yesterday against the Japanese yen (JPY) as the US CB Consumer Confidence were better than expected at 94.5 which is a record high since January 2008, while the expectations were at 87.4. The greenback weakened the last three days against major peers before the FOMC Statement later today at 18:00 GMT, as investors cut their bets that Fed will increase their interest rates earlier.
Equities
- US equities gained yesterday as the US Consumer Confidence showed improvement. The US 500 (SPI) advanced to 1980, the US 30 (DOW) went to 16937 and the US Tech (NDQ) to 4099.
Commodities
- WTI Crude (OIL) rebound to 81.64 USD per barrel yesterday from the two-years low at 79.44, as the investors believe that the Crude Oil Inventories today will be less than the expected at 3.3 million barrels.
Mover & Shaker with forex options
- New Zealand dollar (NZD) continues to climb against US dollar (USD) and is currently trading at 0.7933. The kiwi is under pressure as the Reserve Bank of New Zealand (RBNZ) will announce the Official Cash Rate and is expected to be at 3.5%.
- Option traders may consider buying a Put on the NZDUSD and gain if the pair moves lower, while the risk is limited to the premium paid.
Recommended Content
Editors’ Picks
EUR/USD clings to gains near 1.0700, awaits key US data
EUR/USD clings to gains near the 1.0700 level in early Europe on Thursday. Renewed US Dollar weakness offsets the risk-off market environment, supporting the pair ahead of the key US GDP and PCE inflation data.
USD/JPY keeps pushing higher, eyes 156.00 ahead of US GDP data
USD/JPY keeps breaking into its highest chart territory since June of 1990 early Thursday, recapturing 155.50 for the first time in 34 years as the Japanese Yen remains vulnerable, despite looming intervention risks. The focus shifts to Thursday's US GDP report and the BoJ decision on Friday.
Gold price lacks firm intraday direction, holds steady above $2,300 ahead of US data
Gold price remains confined in a narrow band for the second straight day on Thursday. Reduced Fed rate cut bets and a positive risk tone cap the upside for the commodity. Traders now await key US macro data before positioning for the near-term trajectory.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price. Coupled with broader market gloom, INJ token’s doomed days may not be over yet.
Meta takes a guidance slide amidst the battle between yields and earnings
Meta's disappointing outlook cast doubt on whether the market's enthusiasm for artificial intelligence. Investors now brace for significant macroeconomic challenges ahead, particularly with the release of first-quarter gross domestic product (GDP) data on Thursday.