Dollar Surges Ahead of the New Year
The dollar is going even higher than it was in the previous two trading sessions. The thing is that there is so much backing the greenback at the moment. For example, the unemployment rate is sliding and the growth rate is surging. The EUR/USD forex binary option is trading lower at the moment by 0.07 percent at the $1.2152 level. Traders have also ditched bitcoin and bought into the USD. It was the case that there was weak consumer confidence data which came out of the American economy yesterday that hurt American stocks. However, this did not hurt traders’ appetite when speaking of the greenback. More gains for the U.S. currency are very likely later on.
There is a lack of demand for the European single currency this Tuesday morning. Traders are of the view that it is worth ditching the currency after there was a slump in European stocks yesterday. There was also a slump in other global stocks after American data came out much worse than was forecasted. There were fears that the euro will continue its slide into the abyss in the coming hours of trading.
There is a lot of volatility when speaking of the yen in the latest round of trading. The thing is that the yen made some very important gains during yesterday’s trading session. However, traders felt that it is better for them to go short on the currency this morning, as they feel that the gains made on Tuesday were overdone. The yen has tumbled versus the dollar and a number of its other peers, so be very cautious while trading the Japanese currency today
There was a global stock market slump on Tuesday. We saw big losses in American, Asian, European, British and Canadian stocks. This all came as global stocks were overvalued, so traders decided to take out their profits. Today will be more of a quiet day ahead of the New Year. Moreover, a number of markets will be closed, which is why you may want to put your money into alternative assets.
However, there will be trading in U.S. stocks in the coming hours, so if you are bullish you may want to check out those charts to see which tech or banking stocks are worth buying into. Apple may end up making a comeback after posting heavy losses recently.
The crude oil binary option was fortunate to make gains on Tuesday. Traders were in favor of going long, as they felt that the commodity was oversold. However, the black gold has tumbled in the latest round of trading by 58 cents to the $53.54 level. With America is set to go for exports of crude, this is likely to put further downward pressure on the commodity. Therefore, going short this Wednesday morning is where the action is at.
The gold binary option is a touch lower after gaining notably on Tuesday. The commodity has been hit this morning as the greenback surges it is important to take into account that the gold binary option usually slides when the greenback. Look important to open daily Call options for gold futures once you get a chance in the next few hours of trading.
Gold is still one of the hottest commodities at the moment. Traders have been in the mood to ditch it in the sot recent trading as this is where the higher returns are. More weakness is likely in the latter hours of trig today, so be prepared.