The U.S. dollar went through a very volatile trading week. Among the most pivotal events that were driving the markets was the Ukraine crisis. The dollar was trading lower for certain parts of the week versus its peers. However, it started to show a bit of strength at the end of the trading week. We may see much of the same lackluster performance in the coming trading days. Therefore, look to go short on the USD/CAD currency pair.
Overall, the euro was one of the best performing currencies during the week that just passed. Traders were of the view that it was worth it for them to take risks when it comes to the currency market. This was even though there has been data showing that the markets are not so strong outside the U.K. and U.S. There will be much economic data published from the news wires in the days ahead. It may be that the EUR may surge ahead.
The British pound was not so strong during the week that just went by. Investors felt that they should sell the sterling for certain parts of last week. It slipped against the euro and the dollar on Friday. Investors do understand that the British economy is very strong. There has been a lot driving the markets. This includes the overheating housing market in Britain. There are no concerns that it is overdone, meaning you will want to be cautious while trading the sterling in the coming trading days.
We saw U.S. stocks go lower at the end of the previous trading week. The NASDAQ led stocks lower as the week just went by. There are simply concerns that earnings growth is too high. This led the NASDAQ to cap its biggest weekly decline in two weeks.
Amazon tumbled a whopping 0.99 percent at the end of last week’s trading session. Ford Motor Company made losses of 3.3 percent. There we also a number of losses for many equities towards the end of the last week’s session.
Traders are fearful that there will be additional losses for stocks and indices as the trading week passes by.
Crude oil futures tumbled to their lowest level in two weeks on declining equities. The commodity seemed to slide as the trading week carried on. The poor corporate earnings figures led there to be very big losses. In fact, the commodity recorded its first weekly loss since April 4. Inventories in the U.S. reached their highest level since 1982. Investors may want to go short on the black gold in the days ahead as it is still somewhat overvalued.
There was a lot of instability when it came to the gold binary option in previous trading days. The thing is that it turned out to go very positive on Friday. Traders just felt that it was worth it for them to go long on the yellow metal due to it being overvalued. On top of this, there seems to be many global crises which have turned out to lend the metal a helping hand.
A currency pair that has not been so exciting during the previous trading week was the GBP/USD. Investors were not sure whether to buy or sell as there were factors pushing the pair in both directions. The thing is that there is set to be a lot of data released from the news wires in the coming trading week. Therefore, look to go long on the GBP/USD pair when you get a free chance.