Currencies
- The euro (EUR) fell to 1.2417 yesterday against the US dollar (USD) as the dollar rebounded. European Central Bank (ECB) will start soon buying asset-backed securities as part of the new stimulus plan. ECB expects to expand its balance sheet by as much as 1 trillion euros in order to boost the economy.
- US dollar (USD) rose to 114.90 yesterday against the Japanese yen (JPY) as US economy recover faster, amid speculation of an earlier rise in interest rates. The greenback rose to fast the last month near 4-year high. On Friday the US Retail sales will be announced and dollar will be under pressure as last month’s results weakened the dollar. Today the Japanese monthly Tertiary Industry Activity will be announced and it expected to rise by 0.9%.
Equities
- US equities fell reached all-time high as investors are optimism about the US economy after the speech of US President Barack Obama. The US 500 (S&P 500) advanced to 2038, the US 30 (DOW) climbed to 17601 and the US Tech (NASDAQ) to 4181.
Commodities
- (Corn) gained yesterday to 378.13 USD cents per bushel as the US government lowered its production forecast unexpectedly.
Mover And Shaker With Forex Options
- Gold (XAU) dropped from 1178 to 1147 as investors locked on profits amid speculation of a dollar strength to rise again. The precious metal approaches a new 4.5-year low as its price hurts by inflation also for the investors who hedge against rising prices.
- Option traders may consider buying a Put on the XAU/USD and gain if the pair moves lower, while the risk is limited to the premium paid.
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