Euro Hits Lowest Level Since January
Easy Forex | Jul 21, 2014 05:22AM ET
Currencies
- The euro collapsed and reached its lowest level since January at 1.3500 against the dollar. The single currency continues its bearish momentum, on speculation that the Federal Reserve may increase the interest rates by the middle of 2015.
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The dollar traded near its 6 months low last week against the Japense yen, while is now trading around 101.20. It looks that investors shift towards haven assets after the crash of the Malaysian airlines on Thursday. Thus the appreciation of the yen.
Equities
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Global indices were hit on Thursday and it looks that they are now recovering, with the S&P 500 rose from 1942 up to 1973, FTSE RAFI UK 100 increase from 6640 up to 6719 and the S&P/ASX All Australian 200 climbed up to 5503.
Commodities
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WTI Crude Oil climbed from its three month low at 99.00 all the way up to 103.90 US dollars per barrel, during the previous week. The energy is strongly correlated with the tensions in Ukraine and Gaza.
Mover & Shaker with FX Options
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Gold rose up to 1324 US dollars per ounce on Thursday afternoon after Rebels hit the Malaysian civilian aircraft. The precious metal retraced back to 1310 where is now trading, affected by the strong dollar.
- Option traders may consider constructing a Long Straddle Strategy on the XAU/USD and gain if the pair moves in either direction, while the risk is limited to the premium paid.
- A Long Straddle Strategy can be constructed by purchasing an at-the-money Call and Put.
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