Crude May Rise for Third Straight Trading Day- 23/06/2014

Currencies

USD

It was unfortunate to see that there was a lack of bullish sentiment hen speaking of the greenback. The dollar ended up sliding the most in 10 weeks versus the euro. The dollar also slumped versus a number of other peers, as traders decided that it was time for them to take their money out of the greenback and put it into counter currencies. With U.S. interest rates expected to be kept at zero for a prolonged period, it is no wonder that the dollar is in such low demand.

GBP

There has been a lot of demand when speaking of the British pound in the past few trading days. Traders are of the view that it is worth it for them to go long on the British currency due to the strengthening British economy. This has resulted in the forecast by experts that the Bank of England will raise interest rates in the U.K. to 1 percent by the end of May. With this in mind, do not be surprised if the GBP/USD forex binary option continues to go higher later this afternoon.

AUD

For those of you who have a lot of confidence in the Aussie these days will be happy to know that he Australian economy is forecasted to be among the three-fastest growing economies in the developed world. Therefore, currency investors are convinced that the RBA will go ahead with raising interest rates. The central bank is aiming to boost all the major industries in order to make Australia a regional powerhouse. For those foo u ho have not bought into the Aussie lately, may want to go long once you get a chance this Monday.

 

Stocks/Indices

There was a big surge in Asian stocks during last week’s trading session. The thing is that they went lower on Friday, as traders felt they were overvalued.

Australia’s S&P/ASX 200 Index dropped 0.9 percent. Hong Kong’s Hang Seng Index gained 0.1 percent.

Samsung life dipped 3.4 percent to 101,000 yen. Isuzu Motors Ltd. added 3.6 percent to 695 yen.

All eyes will be on U.S.s tocks in the hours ahead after they were able to gain for most of last week. Investors are hoping the U.S. economy will improve, which is needed to give equities a big boost. Apple stock may turn out to be the big gainer.

 

Commodities

Crude Oil

There was a lot of strength when speaking of the crude oil binary option at the end of last week’s trading session. Investors were in the mood to go long due to the very high returns which the commodity offered them. One of the biggest factors boosting the commodity was the much weaker dollar. In addition, with the situation in Iraq becoming direr with each passing day, we could see crude oil build on its current gains.

Gold

We saw gold surge for much of last week, and the gains continued on Friday. The commodity gained at the end of the trading week, but the advances were not as great as we hoped. Therefore, there could end up being big gains in the latter hours of trading today, which is why opening weekly Call options may be the way to go.

 

Wild Card

Crude Oil

Currently, there is a lot of upward pressure when speaking of the crude oil binary option. With the forecast that supplies will slide, this is a good enough reason to go long on the commodity today. What’s more, traders are of the view that more strength for the black gold is likely, so buy.