There ended up being some very big losses when it came to the U.S. dollar during yesterday’s trading session. Investors felt like it was worth it for them to go short on the U.S. currency as it was simply not offering them high enough returns. However, it is trading marginally higher versus the pound and the euro in the latest round of trading. Investors will want to look into going long on the greenback today, as it is seen as undervalued.
There euro is showing some weakness this morning, but the losses are not too heavy. The weakness comes for the EUR as the ECB is likely to go ahead with a loose monetary policy. The reality is that the euro is seen by many to be very overvalued at the moment. Therefore, it is no surprise that we are seeing a lack of bullishness in the latest round of trading. More losses for the euro may be on the cards, so look to go short on the currency in the next few hours.
One of the most resilient currencies these days is the pound sterling. The fact is that there are various reasons to go long on the British economy. The British economy continues to go from strength to strength. It seems that the majority of sectors are doing well such manufacturing and services. There is set to be a further surge this afternoon when speaking of the GBP/USD forex binary option.
For those of you who have been following the movement of U.S. stocks have seen that they were able to make very important gains previously. The thing is that they took a big hit yesterday. The fact is that they have been very much overvalued. It is well-known that U.S. economic growth is at a historical low. Also, really unemployment is very high. These two factors combined have really hurt the top stocks on Wall Street in the previous day of trading on Wall Street.
The Dow Jones Industrial Average slipped 0.61 percent to the 16,613.97 level. The S&P 500 slumped 0.47 percent to 1,888.53.
Cisco Systems dived 0.22 percent to $22.81. Bank of America Corp. dipped 1.26 percent to $14.84.
We have seen the crude oil binary option drop a massive 40 cents this morning. Traders have decided that it is time for them to take some of their profits out. Also, the dollar has held its strength a bit better so far today. Therefore, the weakness we are seeing for crude is not so bad. The rise in U.S. stockpiles is really the main reason for the fall in oil prices this morning. Further losses may be on the cards for oil.
Gold is one of the biggest movers in the latest round of trading. Gold was able to make some very important gains during Wednesday’s trading session. This came about as the dollar took a big hit. Gold futures are lower today by about $2.90, as investors have decided that it is a better idea for them to take their money out of metals and put them into alternative assets.
If you are someone looking to make it big from the financial markets today, the going short on crude oil futures is the way to go. The commodity has been sliding since the beginning of today’s trading session. Investors feel that it is better to put their money into less risky assets due to the risks in the markets right now.