Currencies
- The euro (EUR) dropped from its two month high at 1.3400 back to 1.3315 against the US dollar (USD). The single currency fell despite the improved economic data across the Eurozone. If the pair move below its new support at 1.3300 may drive towards lower lows.
- The US dollar (USD) after reaching a two month low against the Japanese yen (JPY) at 95.80, is looking for a reversal. The Q2 Japanese GDP growth report came out worse than expected and helped the US dollar to gain back a small part of previous week’s losses.
- UK 100 (FTS) rebounded from last week’s low at 6451 up to 6575. The improved Chinese economic data proved a catalyst for the index.
- WTI Crude (OIL) pared last week losses from its low at 102.20 all the way up to 106.40 US dollars per barrel. It looks that crude oil is moving higher.
- Gold (XAU) may continue the bullish upturn for another day. The precious metal reached a two week high at 1333 US dollars an ounce and looks towards higher highs.
- FX Option traders can benefit from the bullish Australian dollar (AUD). The strong Chinese data helped the aussie to appreciate, reaching a two week high at 0.9220 against the US dollar (USD). AUDUSD at the money CALLs may prove an ideal option trade with risk limited to the premium paid.
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