Currencies
- The euro (EUR) rebounded from its two year low at 1.2358 up to 1.2444 against the US dollar (USD). The euro gained a part of its losses after the German Ifo Business Climate unexpectedly increased for the first time since April, boosting hopes for recovery.
- The British Pound (GBP) rose around 100 pips and climbed up to 1.5713 against the US dollar (USD). The BoE kept the interest rates at record lows but remain higher than the interest rates in Japan and Europe. The sterling may be seen higher against a basket of currencies.
Equities
- The European stocks are on a rally, with the Germany 30 (DAX) trades near its 2 month high at 9832, the EU stocks (ESX) climbed up to 3233 and France 40 (CAC) rose up to 4390.
Commodities
- WTI Crude (OIL) fell from its high at 77.80 down to 75.44 US dollars per barrel. OPEC meets this Thursday and is considering to exempt three members from a reduction in production.
Mover & Shaker with forex options
- The US dollar (USD) skyrocketed against the Canadian dollar (CAD) and reached its high at 1.1311. The loonie lost is momentum ahead of the Monthly Canadian Core Retail Sales due at 13:30 GMT and the expectations are on 0.4%.
- Option traders may consider buying a CALL on the USDCAD and gain if the pair moves higher, while the risk is limited to the premium paid.
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Editors’ Picks
AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Bitcoin displays bullish signals amid supportive macroeconomic developments and growing institutional demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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