Currencies
- The euro (EUR) continued its drop against the US dollar (USD) and reached its new low at 1.3807. The single currency fell as Mario Draghi stated during the weekend that the appreciation of the euro may indicate further monetary stimulus.
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Gold (XAU) collapsed from its three week high at 1331 down to 1289 US dollars an ounce. The precious metal looks driven by the US economic data and also by the situation in Ukraine.
Equities
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The European stocks fell as Russian troops entered into Ukraine. The EU Stocks 50 (ESX) fell from 3080 down to 3011 and France 40 (CAC) dropped from 4401 down to 4263.
Commodities
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The WTI Crude (OIL) rebounded from its weekly low at 102.93 up to 104.02 US dollars per barrel. The energy rose as the US Crude Oil Inventories are due to release at 14:30 GMT with forecasts of only 1.3 Million barrels held in inventory.
Mover & Shaker with FX Options
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The US dollar (USD) made a rally yesterday and rose almost 80 pips against the Japanese yen (JPY). The US dollar erased part of previous week’s losses and climbed from 101.49 all the way up to 102.25, as the tensions in Ukraine are escalating and investors are shifting towards haven assets.
- Options traders may consider constructing a Bull Call Spread on USDJPY as the pair may continue its rally.
- A bull call spread can be constructed by purchasing an at-the-money Call and selling an out-of-the-money Call.
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GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
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Week ahead – BoE and RBA decisions headline a calm week
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