Currencies
- The euro (EUR) extended its drop to a new two-year low at 1.2219 against the US dollar (USD) on Friday on speculations that the Federal Reserve will increase their interest rates as early as in Q2. Today the European Consumer Confidence will be announced and is expected to be at -11.
- The US dollar (USD) climbed to 119.61 on Friday against Japanese yen (JPY) as the Fed will probably hike their interest rates in the middle of next year. Today the US Existing Home Sales will be announced and are expecting to be at 5.21M.
Equities
- US equities had the second biggest weekly gain this year as Fed will probably rise the interest rates in the middle of next year, while US economy expanded by 3.9% this year. The US 500 (SPI) climbed to 2075, the US 30 (DOW) advanced to 17841 and the US Tech (NDQ) went to 4288.
Commodities
- WTI Crude (OIL) rebounded from 54.41 to 58.38 USD per barrel on Friday , as Saudi is confident that the demand for oil will rise, while some non-OPEC oil producers cut their output.
Mover & Shaker with forex options
- The US dollar (USD) skyrocketed up to 0.9848 against the Swiss Franc (CHF) and recorded its 2 year high. The franc declined after the Swiss National Bank (SNB) imposed negative interest rates yesterday.
- Option traders may consider buying a Call on USDCHF and gain if the pair continues the rally, 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.