FOREX: FX OPTION EXPIRY

"*LESCURE: 85% OF FRENCH DEBT ISSUANCE PROGRAM IS COMPLETE" - BBG

• "*MOULIN: THERE IS MORE DEMAND FOR FRENCH DEBT THAN OFFER"
• "*MOULIN: THERE IS NO DIFFICULTY FOR FRANCE TO ISSUE DEBT"
• "*MOULIN: NO PLAN TO CHANGE MORTGAGE LENDING RULES IN FRANCE"

"UKMTO has received a report of an incident within the Strait of Hormuz. A vessel has been struck by an unknown projectile while transiting the Strait of Hormuz. Status of crew, damage assessment and environmental impact are unknown at present. Update 001: A fire has broken out onboard the vessel following the reported attack. Local authorities are on the scene and assisting in evacuating crew members. Vessels are advised to transit with caution and report any suspicious activity to UKMTO whilst authorities are investigating."

Gold has traded through support around the 50-day EMA, currently at $4347.1, and yesterday breached support at $4282.7, the Sep 2 low. A clear break of the 50-day average would highlight a stronger reversal and signal scope for an extension towards $4231.1 initially, a Fibonacci retracement. Note that moving average studies remain a bull mode position highlighting a dominant uptrend. First resistance is at 4510.9, the Sep 3 high. A bull cycle in Brent futures remains intact and the contract is trading closer to its recent highs. The break of the $100.00 handle strengthens the bull trend. Note that the trend is in overbought territory, a corrective pullback would allow this condition to unwind. Initial support to watch lies at $95.88, the 20-day EMA. For bulls, scope is seen for an extension towards $111.97 next, a Fibonacci projection.

• WTI Crude up $2.28 or +2.25% at $103.68
• Natural Gas down $0.01 or -0.24% at $2.894
• Gold spot down $36.37 or -0.85% at $4268.1
• Copper down $2.95 or -0.46% at $637.45
• Silver down $0.42 or -0.67% at $62.8293
• Platinum down $18.75 or -1.06% at $1746.34