The euro (EUR) edged higher against the US dollar (USD) touching 1.3200 before correcting somewhat to 1.3170, after yesterday's speech by European Central Bank president Mario Draghi, in the European Parliament. The single currency has recovered its previous losses that had driven it as low as 1.27 only a few weeks ago. Today, look for a possible correction at 1.3100 before continuing its bullish trend.
The Canadian dollar (CAD) has edged higher against the US dollar (USD) touching 1.0250 as markets expect the Bank of Canada's central bank to keep rates unchanged at 1.00%
WTI Crude (OIL) has dropped to a 6 months low, moving to 88.61 after having previously touched as low as 86.20. Oil's drop was exacerbated by a global slowdown in commodities demand as well as further energy supplies coming from North America. Looking ahead, US crude oil inventories released this afternoon may give traders a sense of the commodities direction
Weekly option volatilities for the EURUSD are stable at 8.25 as markets leave fear on the side keeping option premiums stable.
IMOH, Clement I.
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