Currency Updates:
Currencies
- The euro (EUR) has rebounded against the US dollar (USD) after touching 1.3636 on Friday. The single currency is currently at 1.3681 and may be looking at resistance at 1.3757..
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The US dollar (USD) remains confident against the Japanese yen (JPY) after having reached a five year high at 104.63. The dollar has sincere retraced to 104.034 but may continue its bullish trajectory over the holiday season.
Equities
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US stocks opened the week higher as Christmas nears and Wall Street remains bullish. The US 500 (SPI) has touched 1820.60, an all-time high before correcting to 1819.51.
Commodities
- Brent Crude (BRT) has picked up over the past few days from 109.35 to 111.90 as fears of another supply disruption shake oil markets.
Mover & Shaker with FX Options
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The Australian dollar (AUD) strengthened against the US dollar (USD) over the weekend. The pair has fallen from a high of 0.9754 to 0.8823 since October as the economy follows a natural depreciation following lower demand for its raw materials.
- Options Traders expecting a weaker Aussie may consider constructing Bear Put spreads on the pair.
- The Bear Put spread is constructed by buying an at-the-money Put and selling an out-of-the-money Put option on the AUDUSD.
