Currencies
- The euro (EUR) collapsed from 1.2569 down to 1.2319 against the US dollar (USD). The single currency dropped after Janet Yellen stated that interest rates will rise gradually next year while expressing her concerns about the economy.
- The US dollar (USD) skyrocketed from its monthly low at 115.55 all the way up to 119.00 against the Japanese yen (JPY), on yesterday’s session. The greenback strengthens across the board after the FOMC statement, erasing yen’s previous gains.
Equities
- The US equities erased part of their previous losses as Fed indicates economic growth in the US. The US 500 (SPI) advanced up to 2010, the US 30 (DOW) rose up to 17324 and the US Tech (NDQ) increased to 4172.
Commodities
- During this weekly session, Natural Gas (NGS) declined from 3.928 down to 3.600 US dollars per mmBTU, as investors sold the commodity due to mild weather in US. On the calendar, the Natural Gas storage will be revealed today at 15:30 GMT with expectations at -61 Billion cubic feet held in the underground storage.
Mover & Shaker with forex options
- The British Pound (GBP) slid more than 200 pips and dropped down to 1.5541 against the US dollar (USD). The cable driven by Fed’s statement trades near its yearly low ahead of UK monthly Retail Sales due at 09:30 GMT.
- Option traders may consider buying a Put on the GBPUSD and gain if the pair moves lower, while the risk is limited to the premium paid.
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EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
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.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.