Spotlight On Fx

By Craig Bewick
JUN 07 2021

A relatively quiet day greeted the second week of trading in June as US Equities were mixed, US Treasury futures prices were little changed, as were precious metals and WTI Crude Oil prices fell just slightly.  CME Group grains markets saw a bit more action as Corn prices were up by about 2.5%, Soybean was about 1.5% higher, as were Wheat prices.  All three of these grains, while not at recent high levels, continue to trade at elevated prices and volatility. 

CME Group FX futures prices were little changed today, but we took a closer look at the US Dollar versus major currencies using familiar QuikStrike graphs.  While we found a similar story among most of the major currencies, we decided to showcase the Euro FX and the British Pound below.  As you can see from the orange line in each of the graphs below, both currencies are trading at near recent high prices versus the dollar while volatility is near one-year lows.  In fact, at 6.2%, 30-day implied volatility in the Pound options is the lowest we’ve seen it in over a year. 

ABOUT THE AUTHOR

Craig Bewick has spent 25 years in futures and options markets, starting at CBOT and CME working in risk management, regulatory, technology, product management and client development. 

Connect with Craig at activetrader@cmegroup.com

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