The EU Morning Report – Aussie trades near its three month high- 23 June 2014
Currencies
The Euro (EUR) closed on Friday at around 1.3600 against the US dollar (USD) and is now moving upwards. The single currency remains very volatile while the European Manufacturing and Services PMI are on the calendar for today, where positive figures may push the pair higher.
Gold (XAU) completed its rally by reaching a monthly high at 1321 US dollars an ounce. The precious metal climbed after Fed announced that might keep interest rates low at a considerable time.
Equities
Hong Kong 40 (HSX) rose from 23083 all the way up to its five month high at 23454 after China manufacturing beat all estimates. The index retraced back to 23175 and await for more news to come out.
Commodities
The WTI Crude (OIL) opened above 107 US dollars per barrel. The demand for the energy rises as Iraq violence escalates, adding concern that oil supplies may be disrupted.
Mover & Shaker with FX Options
The Australian dollar (AUD) skyrocketed from 0.9370 all the way up to 0.9443 against the US dollar (USD) and recorded its three month high. The aussie climbed after China PMI came out better than expected this morning.
Option traders may consider constructing a Bull Call Spread Strategy on AUDUSD and gain if the pair continues the upside, while the risk is limited to the premium paid.
A Bull Call Spread Strategy can be constructed by purchasing an in-the-money Call and selling out an out-of-the-money Call.
Written by Evdokia Pitsillidou
Currency strategist at easy-forex
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
The EU Morning Report – Aussie trades near its three month high- 23 June 2014
Currencies
Gold (XAU) completed its rally by reaching a monthly high at 1321 US dollars an ounce. The precious metal climbed after Fed announced that might keep interest rates low at a considerable time.
Equities
Hong Kong 40 (HSX) rose from 23083 all the way up to its five month high at 23454 after China manufacturing beat all estimates. The index retraced back to 23175 and await for more news to come out.
Commodities
The WTI Crude (OIL) opened above 107 US dollars per barrel. The demand for the energy rises as Iraq violence escalates, adding concern that oil supplies may be disrupted.
Mover & Shaker with FX Options
The Australian dollar (AUD) skyrocketed from 0.9370 all the way up to 0.9443 against the US dollar (USD) and recorded its three month high. The aussie climbed after China PMI came out better than expected this morning.
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
Click here to visit Easy-Forex.com
Related Posts: