Crude Oil Still Higher than the $100 Mark
The greenback recently touched a five-year higher versus the yen. It is headed for annual gains against major peers due to sustained U.S. growth that will lead the Fed to cut bond purchases by the end of next year. The USD/JPY currency pair is trading much higher this Monday morning by 0.16 percent at 105.34 yen.
The European single currency is trading lower this morning after making some important gains during last week’s trading session. Investors were in the mood to go long last week, but this is simply not the case at the moment. As a result, you may want to look into going short on the euro today, as traders prefer putting their money into the pound and the dollar before the New Year sets in. The EUR/USD currency pair is lower by 0.02 percent today at the $1.3744 level.
What we are seeing a lot of this morning is weakness when speaking of the Australian dollar. Much of the reason for this is that traders are not so willing to take big risks amid the onset of the New Year. Investors have decided to go short on the AUD/USD pair this morning. The mentality of traders is not to take risks in the forex market this Monday morning, as they await economic data. Also, traders are of the view that it is better to play it safe before the New Year.
The majority of stocks were hit during Friday’s trading session, as investors felt that the gains made in the early part of the trading week were overdone. This shows just how quickly the situation in the markets can change.
The Dow Jones Industrial Average dived 0.01 percent to 16,478.41. The Nasdaq Composite Index slipped 0.25 percent to 4,156.59.
Facebook dived 3.97 percent to $55.44. Twitter slipped 13.04 percent to $63.75. Cisco gained 1.01 percent to $22.02.
Traders are hoping for a bullish comeback during the U.S. session later today.
Crude oil futures are about level this morning at $100.30. Traders thought that the commodity would be trading lower, but it has managed to go much higher. This is because of the bullish sentiment of traders at the moment. They feel that it is time for them to buy into the commodity as it is offering them such high returns. For those of you that have been following the movement of crude, it surged ahead during last week’s trading session. Look to open Call options today.
It looked as if gold would extend the gains which it made towards the end of last week this Monday. However, the commodity is trading lower this morning by $10.10, as traders prefer putting their money into alternative assets. This has been the mentality of traders since the commencement of today’s trading session. In fact, gold is trading lower for the first time in five days, as the previous gains may have been overridden. This has also led to weakness for other leading commodities. Look for gold to continue declining as the trading day passes by.
If you want to make a lot of money from the commodities market during the current trading week, then you may want to look into selling the gold binary option. Traders are of the view that it is not worth it for them to put their money into gold due to the risks which the commodity entails. If you are a risk taker, then Put options for gold is the way to go.