Crude Oil Heads Much Lower this Morning
One of the strongest currencies this morning is the U.S. dollar. Traders have continued to go long on the American currency yet again, as they feel that it is better to be safe amid the December holidays. The USD/CHF forex binary option is trading higher as of now by 0.09 percent at the 0.9906 centimes level. The dollar has also made inroads into the loonie and bitcoin. There will be consumer confidence data coming out of the American economy at 15:00 GMT. This will be key in determining the strength of the greenback in the latter hours of trading today. Look to go long on the USD/CHF pair once you get a chance.
The euro has gone lower yet again, as traders are of the view that it is worth it for them to take their money out of the European currency and put their money into alternative currencies. This has been the view of traders in the past two trading days. But looking at the bigger picture, traders have been going short on the EUR in the past few trading weeks. Look to go short on the EUR this morning.
We are seeing a lot of movement when speaking of the Japanese yen in the most recent trading. The yen has tumbled versus the dollar and a number of its other peers in recent trading sessions. The thing is that it has made a mini comeback this morning. The USD/JPY pair is trading lower this morning by 0.82 percent that the 119.64 yen level. The strength today has come on the news that Japan will cut the tax rate on corporate income.
For those of you who have been trading the S&P 500 will be happy to know that it has risen for the third straight trading session. The fact of the matter is that the leading U.S. index is offering such high returns these days. To top this off, the index is also headed for its third straight weekly advance. It seems that the gains from last week have led investors to go long on a number of leading stocks and indices in America and England.
The Dow Jones did not perform as well yesterday, but traders should not be worried as there is not much liquidity in the markets now. Therefore, look to open daily Call options in the next few hours.
Crude oil futures are lower as of now by 56 cents at the $53.00 level. The commodity also went down yesterday, as traders just do not feel that it is time to go long. Traders have taken it upon themselves to go short on the crude oil binary option. This is because there is the forecast that the black gold will dip below the $40.00 level. Get ready to open daily Call options once you get a chance this Tuesday morning.
The gold binary option has gained this Tuesday by an impressive $7.00 to $1,188.90. The commodity is going higher after making some very big declines yesterday. There is still some instability in the financial markets, as traders just do not feel that they should put their money in energies. Therefore, gold could build on its gains this Tuesday afternoon.
The crude oil binary option is one of the most bearish commodities at the moment. It has tumbled a lot in the past couple of months. Even though there are supply worries in Libya, this will not prevent crude oil from sliding even lower.