Currencies

• The euro (EUR) skyrocketed from 1.3813 all the way up to 1.3879 against the US dollar (USD). The single currency appreciated as the Mario Draghi stated that a quantitative easing program is not about to happen in the near term. Although, the European Central Bank (ECB) is ready to embark a quantitative easing program if will be necessary.

• The US dollar (USD) rebounded by gaining more than 65 pips during yesterday’s session against the Japanese yen (JPY). Yen lost part of its gains as Russian troops returned to their base and it looks that the Ukraine tension eases..

Equities

• The US stocks advanced erasing most of its previous losses, with the US 30 (DOW) rebounded from 16240 all the way up to 16427 and US 500 (SPI) rose from 1843 up to 1869.

Commodities

• Agricultural commodities such as Soybeans, Corn and Wheat advanced after a US government report showed an increased demand from US supplies. 

Mover & Shaker with FX Options

• The British Pound (GBP) climbed up to its four year high at 1.6856 against the US dollar (USD) before retracing back to 1.6810. The cable rose as the British economy looks that found a recovery path. On the calendar, country’s quarterly prelim GDP will be revealed at 8:30GMT with expectations at 0.9%.

• Better than expected release may drive the pair higher, thus options traders may consider constructing a Bull Call Spread on GBPUSD.

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