Crude Oil and Gold Tumble this Thursday Morning
There is a lot of mixed behavior when it comes to the U.S. dollar in the latest round of trading. Investors are of the view that they should be very cautious when it comes to the greenback as of now. The GBP/USD forex pair is trading higher at the moment by 0.24 percent at the $1.6620 level. The AUD/USD forex binary option has made gains of 0.07 percent to the 92.32 U.S. cents level this morning.
There has been a lot of weakness for the European single currency since the beginning of today’s trading session. Traders have taken it upon themselves to sell the euro for the second straight trading session. The biggest losses for the euro have been made versus the dollar. This weakness has come on talk of additional monetary stimulus and a lack of positive economic data. The euro has also lost a lot of ground versus the yen. There has been weak data from Germany, which could really hurt the euro in the hours ahead.
We are seeing a lot of strength when it comes to the pound sterling in the latest round of trading. Investors have taken it upon themselves to go long on the pound sterling today as it is really seen as undervalued. Therefore, you will want to look into going long on the GBP to make maximum returns this morning. The GBP/USD forex binary is higher as of now by 0.27 percent at the $1.6627 price level.
There ended up being some very big losses when it came to stocks and indices during yesterday’s trading session. Investors just felt that it was not the right time for them to go long. This was due to there being some very big risks. For example, investors went short as the gains made in the previous trading session were overdone. There seems to be mixed signs form America, which seems to be putting much downward pressure on American equities at the moment.
The Dow Jones Industrial Average made losses of 0.6 percent to the 16,268.99 level. The S&P 500 Index tumbled by 0.7 percent to 1,852.56.
Bank of America Corp dipped 0.17 percent to $17.19. Facebook Inc. slipped 6.95 percent to $60.38. Microsoft Corp. slumped 1.36 percent to $37.79.
Traders should look to go long in the U.S. trading session.
We saw some very big gains for the crude oil binary option during yesterday’s trading session. The commodity is lower this morning by 10 cents. Investors have taken it upon themselves to go short on the commodity this morning due to the lack of risk appetite. It is important to take into account that the commodity’s gains were overdone. Therefore, the behavior we are seeing this morning is of no surprise.
The gold binary option is trading lower this morning by more than $9. Investors are of the view that they should go short on the commodity as it is simply not offering them high enough returns. Also, Traders still feel that there will be further losses on the cards, as they look for alternative assets to invest their money in. Going short in the hours ahead may be the way to go.
We saw some very big losses when it came to the Dow Jones binary option yesterday. Investors just did not feel that it was worth it for them to go long on Tuesday. However, investors are of the view that they should actually go long in the U.S. session this afternoon.