Currencies
- The euro climbed from its 11 month low at 1.3152 all the way up to 1.3216 against the dollar. The single currency rebounded on speculation the European Central Bank (ECB) may not add more stimulus measures in next week’s meetings.
- The dollar declined around 50 pips reaching its weekly low at 103.69 against the yen. The pair retraced ahead of quarterly US GDP and Monthly US Home sales announcements with expectations at 3.9% and 0.6% respectively. Any negative figures coming out may push the pair even lower.
Equities
- The European equities continues to rally with the Germany 30 rose up to 9600, France 40 went up to 4401 and UK 100 climbed up to 6827.
Commodities
- Natural Gas (NGS) range bound at around 3.990 US Dollars per mmBTU, as the Energy Information Administration will announce the energy’s storage held underground at 14:30 GMT and with expectations of 79 Billion cubic feet.
Mover And Shaker With Forex Options
- The AUD skyrocketed more than 100 pips and reached its three week high at 0.9370 against the dollar. The aussie rose after a report showed that business expenditure climbed surprisingly.
- Option traders may consider constructing a Bull Call Spread on the AUD/USD and gain if the pair continues the upside, while the risk is limited to the premium paid.
- A Bull Call Spread can be constructed by buying an in the money Call while selling out an out of the money Call.
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