Quad Witching Tomorrow 6.18.09
There are no U.S. economic reports tomorrow but that does not mean that we wont have some interesting volatility in the financial markets. Quite the contrary as we have Quad or Quadruple Witching on the calendar. Quadruple witching only occurs four times a year -- on the third Friday of March, June, September and December.
It is a day when the contracts for stock index futures, stock index options, stock options and single stock futures (SSF) all expire. This usually leads to some erratic price action in the equity markets. Since currencies like to take its cue from equities, we could see some uneven price action in the forex market.
For a more thorough outlook, make sure you read by Daily Currency Focus on FX360.com. Today’s leading topic is EUR/USD: What Triggered the Reversal