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Volatilities Rising Ahead Of The ECB Press Conference

ByEasy Forex
Published 11/06/2014, 03:10 AM
Updated 03/09/2019, 08:30 AM

Currencies

  • The euro (EUR) retraced back to 1.2456 from its high at 1.2575 against the US dollar (USD). The single currency lost its previous gains as the greenback remains strong across the board. The minimum bid date will be announced today and we anticipate that the rate will remain at its record low at 0.05%. The ECB Press Conference is due at 13:30 and a dovish stance by Mario Draghi may pave the way towards lower lows for the euro.
  • US dollar (USD) continues its bullish momentum against the Japanese yen (JPY), as it climbed up to 115.50. The pair lost more than 600 pips within one week as the increased stimulus measures by the BoJ pushed the pair higher.

Equities

  • The European Stocks headed for gains ahead of the ECB Press conference. The Germany 30 (DAX) rose from 9146 up to 9330, the UK 100 (FTSE) climbed up to 6522 and the Swiss 20 (SMI) skyrocketed from 8697 all the way up to 8851.

Commodities

  • Natural Gas (NGS) reached its 4 month high at 4.307 US dollars per mmBTU. The Natural Gas Storage is due today at 15:30 GMT and expectations show that 86 Billion cubic feet are held in the underground storage.

Mover And Shaker With Forex Options

  • The British Pound (GBP) slid from 1.6020 all the way down to 1.5867 before the rebound up to 1.6000 against the US dollar (USD). The sterling lost 150 pips yesterday and reached the lowest level of the year as a survey showed that the UK service companies have slow growth. The BoE officials have their two day policy meetings today.
  • Option traders may consider buying a Put on GBP/USD and gain if the pair weakens, while the risk is limited to the premium paid.
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