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USD Trading Outlook


 
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24th January

Currencies

  • The euro (EUR) made a rally yesterday and gained more than 160 pips against the US dollar (USD). The single currency skyrocketed reaching its monthly high at 1.3705 after better than expected manufacturing and services came out from Eurozone.
  • The US dollar (USD) slid from its weekly high at 104.83 down to 102.96 and declined more than 180 pips against the Japanese yen (JPY). The pair dropped down to its three week low ahead of next week’s FOMC meeting. Data from US are disappointing, pointing slower economy than anticipated.


Equities

 

  • The European stocks fell and the UK 100 (FTS) dropped down to its three week low at 6708. The index was influenced from the manufacturing reduction in China and is now trading around the level of 1730.

 

Commodities

 

  • WTI Crude oil (OIL) continues the rally for another day rising more than 6 US dollars within two weeks. Crude oil advanced after reports showed that the US distillate fuel stockpiles declined and the oil is now trading near its resistance at 97.80

 


Mover & Shaker with forex options

 

  • The Australian dollar (AUD) tumbled down to 0.8688 against the US dollar (USD) and hit its lowest level since July 2010. The aussie fell after the nation’s three year bond yield declined. Also, China’s bank regulator stated that will take measures in order to protect the credit risk arises from the coal-mining industry. Those two stories drove the aussie lower.

  • Options traders may consider constructing a Bear Put Spread on AUDUSD and benefit from a  possible continuation of the bearish trend.
  • A Bull Call Spread can be constructed by purchasing an in-the-money Put and selling out an out-of-the-money Put on AUDUSD.

23th January

Currencies

  • The euro (EUR) range bound between 1.3515 and 1.3583 against the US dollar (USD) for couple of days. The single currency remains bearish ahead of the European Manufacturing and services PMI due today at 09:00 GMT.
  • The US dollar (USD) advanced recording its weekly high at 104.83 against the Japanese yen (JPY). The US dollar remains strong as better  than expected releases are coming out from US. On the calendar, the US existing home sales due at 15:00 GMT and anything better than forecasted may pave the way towards higher highs.


Equities

 

  • The US 500 (SPI) touched its record high ones again at 1843 before retracing back to 1828. The index tries to rebound back to higher levels and is nowtrading around the level of 1833.

 

Commodities

 

  • WTI Crude oil (OIL) continues the upside for a second day rising more than 3 US dollars and reached its monthly high at 96.87 US dollar per barrel.  The crude oil inventories will be released today at 16:00 GMT and forecasts show an increase of stockpiles by 0.7 million barrels.


Mover & Shaker with forex options

 

  • The US dollar (USD) climbed during yesterday’s session and reached its four and a half year high at 1.1155 against the Canadian dollar (CAD). The loonie depreciated as the Bank of Canada (BOC) kept its benchmark interest rate at 1.0%. More data are coming out from Canada today and may move the pair even higher.

  • Options traders may consider constructing a Bull Call Spread on CADUSD and may capture the potential of a  possible continuation of the rally.
  • A Bull Call Spread can be constructed by purchasing an in-the-money Call and selling out an out-of-the-money CALL on CADUSD.

22th January

Currencies

  • The euro (EUR) rose up to 1.3579 after dropping down to 1.3515 against the US dollar (USD) during yesterday’s session. The single currency remains under pressure awaiting for more news to come out and in the meantime swings between losses and gains.
  • The US dollar (USD) skyrocketed yesterday touching its four year high at 1.1017 against the Canadian dollar (CAD). The loonie depreciated as the Bank of Canada (BOC) may adopt an easing bias in order to support its economy in the near term. The BOC rate statement due today at 15:00 GMT and the press conference will be held at 16:15 GMT.


Equities

 

  • The EUR 30 (DAX) touched its new record high at 9801 yesterday before retracing back to 9719. Yesterday, the German ZWE economic Sentiment came out worse than expected and the index moved lower. The index is now trading around 9770 and it looks for more news in order to continue the bullish momentum.

 

Commodities

 

  • WTI Crude oil (OIL) rebounded from its low at 93.64 all the way up to 95.58 US dollars per barrel. The crude oil rose on speculation that the US stockpiles shrank and demand increases as the US is the world’s biggest oil consumer. 


Mover & Shaker with forex options

 

  • The British Pound (GBP) climbed more than 90 pips against the US dollar (USD), touching its weekly high at 1.6489. The monetary policy committee meets today and the British unemployment rate is on the calendar with expectations at 7.3%. It looks that the labour market is improving helping the cable to appreciate.
  • Options traders may consider constructing a Long Straddle on GBPUSD and due to the high volatility may benefit from any directional move.
  • A Long Straddle can be constructed by purchasing an at-the-money Call and an-the-money PUT on GBPUSD.

21th January

Currencies

  • The euro (EUR) advanced from its two month low at 1.3507 up to 1.3567 against the US dollar (USD). On the calendar, the German ZEW Economic Sentiment due at 10:00 GMT, anything higher than the expectations may help the pair to move higher and above its resistance level.
  • The US dollar (USD) climbed more than 80 pips on yesterday’s session against the Japanese yen (JPY). The yen dropped after three days of gains and the pair is now trading around 104.50. The US dollar rose on speculation that the Fed may taper on next week’s FOMC meetings.


Equities

 

  • The EUR 30 (DAX) declined from its record high at 9797 down to 9678, after worse than expected monthly PPI data came out from Germany. The index opened higher today, ahead of the German ZEW Economic Sentiment release.

 

Commodities

 

  • WTI Crude oil (OIL) rebounded from its low at 93.64 US dollars and moved higher yesterday. The crude oil is now trading around 94.35 and remains under pressure as there are concerns that a slower Chinese economy may reduce the demand for oil.

 


Mover & Shaker with forex options

 

  • The New Zealand Dollar (NZD) skyrocketed from its two week low at 0.8210 all the way up to 0.8339 against the US dollar (USD). The kiwi rose after reports showed an accelerating inflation, indicating that the central bank might increase interest rates in the near term.
  • Options traders may consider constructing a Bull call Spread on NZDUSD and benefit from any further upside.
  • A Bull Call Spread can be constructed by purchasing an in-the-money Call and sell out an out- of-the-money Call on NZDUSD.

20th January

Currencies

  • The euro (EUR) continued its decline touching its two month low at 1.3507 against the US dollar (USD). The single currency tumbled against the greenback as better US data designate the developments of the US economy. The US dollar strength indicates that the Fed may continue the reduction of its stimulus measures as we go along the year.
  • The US dollar (USD) declined below its support at 104.20 down to 103.85 against the Japanese yen (JPY).  The yen appreciated against its counterparts as the Asian stocks have dropped due to slower economic growth in China.

Equities

  • The EUR 30 (DAX) skyrocketed up to its record high at 9797 on Friday. The index showed its biggest weekly increase during the month as the volume of shares traded rose 60% above the average this month.

Commodities

  • WTI Crude oil (OIL) fall from its three week high at 95.04 down to 93.80 US dollars per barrel. Oil prices dropped after data showed slow industrial output in china, which is the second biggest oil consumer in the world.

Mover & Shaker with FX Options

  • Gold (XAU) rallied by gaining more than 30 US dollars within one week and reached its six week high at 1261 US dollars an ounce. The precious metal rose as there is an increasing demand for metals and we may see gold trading even higher in the short term.

  • Options traders may consider constructing a Long Straddle on Gold and capture the upside potential if they expect that gold may continue its rally.
  • A Gold Straddle can be constructed by purchasing an at-the-money Put and an at-the-money Call on gold.


  Go to U.S. Dollar (USD) Archive