Currencies
- The euro (EUR) commenced this week’s trading with a drop to 1.2665, recording a new 23-month low, against the US dollar (USD). The single currency remains under pressure as the German monthly Preliminary CPI will be announced today and is expected to drop by 0.1%.
- The US dollar (USD) reached a new six-year high against the Japanese yen (JPY) at 109.65 earlier in the morning. The greenback carries on strengthening as US economy seems to recovering faster. Today, the monthly US Pending Home Sales will be announced and they are expected to drop by 0.4%.
Equities
- US equities dropped on Friday as investors snapped up profits before third quarter closes. The US 500 (SPI) fell to 1970; the US 30 (DOW) went to 16983 and the US Tech (NDQ) to 4037.
Commodities
- WTI Crude (OIL) fell to 92.94, as concern about the oil supply because of Middle-East trouble eased.
Mover & Shaker with forex options
- Euro (EUR) appeared range bound around its lowest point since July 2014 against British pound (GBP). Pound strengthened as Carney stated that a rise in UK interest rates is getting closer. Today, the number of new UK Mortgage Approvals will be announced with expectations at 66K.
- Option traders may consider buying a Put on the EURGBPand gain if the pair moves lower, while the risk is limited to the premium paid.
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Editors’ Picks
EUR/USD holds above 1.0700 ahead of US jobs report
EUR/USD stays in a consolidation phase above 1.0700 after closing the previous two days in positive territory. Investors eagerly await April jobs report from the US, which will include Nonfarm Payrolls and Unemployment Rate readings.
GBP/USD advances to 1.2550, all eyes on US NFP data
The GBP/USD pair trades on a stronger note around 1.2550 amid the softer US Dollar on Friday. Market participants refrain from taking large positions as focus shifts to April Nonfarm Payrolls and ISM Services PMI data from the US.
Gold remains stuck near $2,300 ahead of US NFP
Gold price struggles to gain any meaningful traction and trades in a tight channel near $2,300. The Fed’s less hawkish outlook drags the USD to a multi-week low and lends support to XAU/USD ahead of the key US NFP data.
XRP edges up after week-long decline as Ripple files letter in reply to SEC’s motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.
US NFP Forecast: Nonfarm Payrolls gains expected to cool in April
The NFP report is expected to show that the US economy added 243,000 jobs last month, sharply lower than the 303,000 job creation seen in March. The Unemployment Rate is set to stay unchanged at 3.8% in the same period.