The dollar is trading near its lowest level in seven years against the yen prior to Fed Chairman Yellen speaks before U.S. lawmakers on Tuesday. The dollar is trading higher versus some pairs, but lower against others. This is the way the greenback has been behaving since the commencement of today’s trading session. The EUR/USD forex binary option is trading higher this morning by 0.16 percent at the $1.3629 level. The GBP/USD forex par is trading higher as of now by 0.13 percent at the rate of $1.7128.
The European single currency is trading lower versus 10 of its 16 main currency counterparts. This comes prior to Draghi speaks before Europe’s Parliament. He will likely state that euro strength will have a negative impact on the region’s economy. The EUR has already slumped 1.8 percent this year. The thing is that the EUR has been able to make inroads into the dollar this morning. Therefore, start buying into the euro in the hours ahead.
The yen has been one of the most bullish currencies in recent trading sessions. The thing is that the Japanese currency has tumbled this morning. Investors realize that the currency is overvalued. In addition, there was a stock market rally in Asia in early morning trading. The USD/JPY pair is higher as of now by 0.13 percent. Investors make want to continue going short on the JPY once they get a free chance this Monday morning.
It is great to see that Asian stocks surged for the first time in five days. The MSCI Asia Pacific Index made gains of 0.5 percent. Japan’s Topix Index advanced 0.8 percent. Hong Kong’s Hang Seng Index added 0.4 percent. China’s Shanghai Composite Index jumped 0.8 percent.
The thing is that there was a lot of weakness when it came to the financial markets during last week’s trading session. Investors are of the view that they should take some big risks after positive data has bene published from Asia and a number of other reasons.
The strength from Asian stocks is likely to really help American stocks once the U.S. session just gets going. Therefore, investors may want to look into going long on the Dow Jones in the coming hours of trading this afternoon.
Crude oil futures are trading lower as of now by 0.46 percent at the $100.37 level. Traders feel like they should go short on the black gold this morning after there was a surge in Asian stocks. This comes as Libya’s oil output continues to increase. In addition, there is an easing of supplies from the Middle East. Investors feel there could be additional losses as the day’s trading session caries on.
The gold binary option is trading lower this morning by 1.13 percent at $1,323.00 level. Traders feel that it is better for them to go short on the commodity this morning. The thing is that there is a lack of support for haven currencies in the latest round of trading. This is the case as traders prefer to put their money in risky assets this morning. Start opening daily Put options in the gold binary option as soon as possible.
There has been a lot of volatility when speaking of the gold binary option in the latest round of trading. Investors have decided to go short on the commodity since the beginning of today’s trading session. Go short on the metal to make maximum returns from gold today.