Currencies

• The euro (EUR) dropped below 1.3700 against the US dollar (USD) during Friday’s Non-Farm Payroll release. The release was not far away from expectations, with the US reporting 192K of new jobs during the last month.

• The US dollar (USD) collapsed from its three month high at 104.13 all the way down to 103.00 against the Japanese yen (JPY). The pair is now trading just above 103.00 as the BOJ Press conference is on the calendar for tomorrow morning.

Equities

• The India 50 (IND) swung between gains and losses as India’s election starts today. The index is now trading around 6709.

Commodities

• WTI Crude (OIL) rose above the psychological level of 100 and climbed up to 101.60 US dollars per barrel. The crude oil is now trading above 100 and may move even higher in the short term.
  

Mover & Shaker with FX Options

• Gold (XAU) rose up to 1306 US dollars an ounce, as there are expectations that the Fed may leave its asset purchases at 55 billion dollars on the FOMC meeting on Wednesday.

• Options traders may consider constructing a Bull Call Spread on gold.

• A bull call spread can be constructed by purchasing an at-the-money Call and selling an out-of-the-money Call.