Currencies
- The euro (EUR) moved almost 100 pips yesterday and reached up to 1.2505 against the US dollar (USD), before the retracement back to 1.2464 where it trades now. The greenback was weak against a basket of currencies and helped the euro to gain part of its lost ground.
- The British Pound (GBP) skyrocketed from its low at 1.5602 all the way up to 1.5763 against the US dollar (USD). The sterling completed a rally yesterday after the UK Manufacturing PMI came out better than expected.
Equities
- The China 50 (CNX) trades near its 2-year high at 9000 on speculation that the Chinese government may support economic growth by reducing its monetary policy.
Commodities
- (Wheat) climbed up to its highest level since May at 606 US dollars per bushel. The prices for the agricultural product rose as there is reduction in production due to dry weather.
Mover And Shaker With Forex Options
- Gold (XAU) completed a rally by climbing around 80 US dollars an ounce and reaching its 2-week high at 1221. The bullion slid down to 1142 after Swiss voters rejected the Swiss Referendum on Sunday but it rebounded as the global economies remain weak.
- Option traders may consider buying a Call on the XAU/USD and gain if the pair moves higher, while the risk is limited to the premium paid.
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