The euro (EUR) remains under pressure early in the day falling against the US dollar (USD). The single currency has dropped to 1.3860 from 1.3889 on yesterday’s early trading. Today’s EU unemployment data release may test the pair..
The US dollar (USD) remains bullish against the Japanese yen (JPY). The greenback advanced from 102.04 to 102.39 as investors are eager for the release of US Non-Farm payrolls (NFP) this afternoon. Better than expected US data may push the dollar to higher highs.
Equities
US stocks remains range bound with the US 500 (SPI) trading above 1883.56 and the US 30 (DOW), measuring the performance of 30 blue chip companies is trading just below 16557.3.
Commodities
Cocoa (CCO), the main ingredient in chocolate, prices are flattening out after a steady rise from 2,000 to 3,000 dollars per metric tonne. The commodity has since slid to 2916.
Mover & Shaker with FX Options
Gold (XAU) continues to slide throughout the week as the precious metal comes under pressure from a stronger US dollar (USD). The pair may see volatility pick up sharply during today’s NFP data release at 12:30 GMT.
Higher volatility maybe capitalised using options. A Long Straddle strategy gains if the pair moves above or below certain strike prices.
A Long Straddle can be constructed by purchasing an at-the-money Call and an at-the-money Put.
Written by Orestis Aristides
Currency strategist at easy-forex
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
The EU Morning Report – NFP set to stir markets after slow trading – 2 May 2014
Written by the easy-forex team
Currencies
The US dollar (USD) remains bullish against the Japanese yen (JPY). The greenback advanced from 102.04 to 102.39 as investors are eager for the release of US Non-Farm payrolls (NFP) this afternoon. Better than expected US data may push the dollar to higher highs.
Equities
US stocks remains range bound with the US 500 (SPI) trading above 1883.56 and the US 30 (DOW), measuring the performance of 30 blue chip companies is trading just below 16557.3.
Commodities
Cocoa (CCO), the main ingredient in chocolate, prices are flattening out after a steady rise from 2,000 to 3,000 dollars per metric tonne. The commodity has since slid to 2916.
Mover & Shaker with FX Options
Gold (XAU) continues to slide throughout the week as the precious metal comes under pressure from a stronger US dollar (USD). The pair may see volatility pick up sharply during today’s NFP data release at 12:30 GMT.
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
Click here to visit Easy-Forex.com
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