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Copper Hits 7 Week High

Published 04/25/2014, 05:32 AM
Updated 03/09/2019, 08:30 AM

Currencies

  • The euro remains on a bullish trend albeit volatile. The single currency has climbed to 1.3830 against the dollar in early trading.
  • The US dollar continues to slide against the Japanese yen as the pair has fallen below 102.09 before correcting somewhat to 102.31. Investors are looking ahead at today’s consumer sentiment release.

Equities

  • Swiss stocks came under pressure pushing the Swiss 20 (SMI) index lower. The index tracking 20 of the largest Swiss corporation like Nestle and Credit Suisse touched a low of 8304 yesterday before correcting to 8359.

Commodities

  • Copper hit a 7 week high, touching 3.12 cents per pound as firm demand from China helps push prices for the commodity higher.

Mover & Shaker with FX Options

  • Gold slid over the week falling from 1326.20 to 1269.45 over the past weeks before correcting somewhat higher to 1293.46.

  • In the medium term, gold may continue its bearish trend and options traders may consider constructing a Bear Put Spread on XAU/USD.

A bear put spread can be constructed by purchasing an at-the-money Put and selling an out-of-the-money Put.

Risk Warning: Forex, Commodities, Options and CFDs (OTC Trading) are leveraged products that carry a substantial risk of loss up to your invested capital and may not be suitable for everyone. Please ensure that you fully understand the risks involved and do not invest money you cannot afford to lose. Please refer to our full risk disclaimer. EF Worldwide Ltd

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