Crude Price Surges to Two-Week High
The greenback was a very big gainer during last week’s trading session. Investors felt that it was worth it for them to go long on the American currency due to the strength which it is showing these days. With the American economy showing a good amount of strength at the moment, it is only natural that investors have bought into the USD. We may see more of the same behavior in the days ahead.
The European single currency had a mixed trading week. It did show some weakness on Thursday and Friday, as traders realized that there are simply not enough factors backing the euro at the moment. This is why it happened to dip vs. the pound and the dollar. The biggest losses for the euro were made on Friday. You will need to be cautious while trading the EUR from now on.
The pound was one of the weakest currencies for much of the previous trading week. The good news is that the pound managed to make an impressive comeback on Thursday and Friday. The reason for this is largely due to the British currency being highly undervalued. The fact of the matter is that we are seeing impressive economic growth in the U.K. For example, retail sales came out very positive, which led the sterling to jump versus both the euro and the dollar. More gains are likely this upcoming week.
We saw some losses for the S&P 500 Index during the trading week that just passed as there was a lot of instability in the financial markets. This is despite the leading American index touching its highest level ever. This shows just how quickly the situation in the markets can change each trading week.
Citigroup was one of the biggest losers when it came to banking stocks while sliding 4.4 percent. The good news is that American Express managed to surge 2.7 percent.
There could be some very important gains in the coming days of trading, so make sure that you study the markets very closely.
There was more strength for the crude oil binary option as the trading week dragged on. Investors felt that they should go long on the black gold after U.S. housing data came out better than was expected. Crude oil futures ended Friday’s trading session higher by 22 cents at $94.32. It is great to see that investors have so much confidence in the black gold at the moment. The commodity climbed to a two-week high on signs of higher economic growth.
There was weakness for gold for much of last week’s trading session, but its biggest gains were capped in the latter part of the trading week. It was able to make a bullish comeback as traders realized just how undervalued gold futures were. The fact is it offered them the perfect opportunity to make high returns from an undervalued metal. Traders are of the view that the gold binary option will be able to gain in the week ahead, so get ready to open weekly Call options.
Crude oil is one of the most dynamic commodities at the moment. There are a number of reasons for this. It is true that the supply from countries such as Iran and Libya is expected to rise. However, this did not stop the commodity from climbing during last week’s trading session. It made important gains as traders capitalized on the faster than expected economic growth in the U.S.