Currencies
- The euro (EUR) moved lower during the Asian session and is now trading near 1.3822 against the US dollar (USD). The week is expected to be very volatile as the FOMC meeting minutes is scheduled for Wednesday and the US Non-Farm payrolls will be revealed on Friday.
The US dollar (USD) dropped down to 101.95 against the Japanese yen (JPY) and recorded its weekly low. The yen continues to appreciate as investors are shifting towards safer assets due to the tensions in Ukraine.
Equities
Asian stocks fell for another day with Hong Kong 40 (HSX) reached its low at 21825 and Japan 225 (NKI) dropped down to 14247. Asian stocks declined as investors are weighting corporate earnings.
Commodities
Copper (CPR) hit its two month high at 3.137 cents per pound as firm demand from China helps push prices for the commodity higher.
Mover & Shaker with FX Options
Gold (XAU) skyrocketed and climbed up to 1306 US dollars an ounce as the tensions in Ukraine are escalating.
- Gold may continue its rally in the short term and options traders may consider constructing a Bull Call Spread on XAU/USD.
- A bull put spread can be constructed by purchasing an at-the-money Call and selling an out-of-the-money Call.
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