pple Slide Dominates U.S. Stock Movement
The dollar surged to its highest level since January against a number of its main peers. This came in spite of tensions between Russia and Ukraine cooling down slightly. Among the most impressive gains for the dollar recently have been versus the pound sterling and the euro. It seems to still be the most reliable currency to trade in times of instability, so the gains which we have seen as of late are not a surprise at all. A lot will be dependent on the unemployment data in the hours ahead when speaking on the movement of the dollar. More strength may very well be on the cards.
It was great to see that the Canadian dollar was able to surge versus a number of its major currency counterparts during yesterday’s trading session. Investors just felt that it was worth it for them to go long on the loonie. In fact, the CAD jumped the most in a week on the Bank of Canada talking of a jump in exports. This jump came even though rates remained unchanged. Therefore, you may want to sell the USD/CAD in the coming hours of trading this Thursday.
The yen is forecasted to weaken in the future, according to key analysts. The USD/JPY currency pair has gained notably in recent trading days. This is to do with both yen strength and dollar weakness. Traders feel that they should continue going short on the yen as Japan public pension is set to become more competitive. Despite the most recent weakness for the yen, it is still slightly higher versus the dollar and a number of other peers this year. However, it is expected that these gains will be erased sooner rather than later. It may be best to trade cautiously with regards to the yen in the next few hours of trading.
There were some losses with the Nasdaq Index mainly due to Apple dragging down the tech sector. The thing is that the Nasdaq Index fell by the most in nearly a month, showing just how volatile it can be.
We saw Apple tumble by a whopping 4 percent yesterday, seeing its biggest slide since January. There were also losses for Delta, so there was simply a lack of bullish sentiment as stocks climbed notably during previous trading sessions.
The crude oil binary option is trading lower this Thursday morning by a whopping 46 cents at the $95.08 level. Traders are of the view that it is better for them to take their money out of the black gold following the big losses which we saw for the top stocks on Wall Street yesterday. What has really put a lot of downward pressure on the commodity today is the fact that U.S. fuel supplies surged. As a result, look to go short on the energy now.
Gold futures have been going higher since the commencement of today’s trading session. Investors have decided to go long n the metal due to there being more risks in the financial markets Therefore, gains for haven currencies such as gold are not a surprise. More advances are likely as the trading day drags on.
One of the best things for you to do today is open daily Call options in crude oil, as more losses lie ahead.