The dollar is trading in a mixed fashion this morning. Traders are not sure which currencies to put their money into as there is simply so much instability in the financial markets. This is also one of the reasons why you will want to be cautious while trading the currency market at the moment. The greenback is trading 0.3 percent lower versus the Swiss franc. On the other hand, the dollar has made inroads into the loonie. Traders may want to continue buying into the USD/CAD pair as the trading day drags on.
There is a lot of strength when speaking of the euro in the latest round of trading. The EUR/USD forex binary option is higher this morning by 0.1 percent. The thing is that the EUR has not performed as well as many had hoped previously, which has ended up lending the EUR a helping hand I the latest round of trading. There will be a lot of economic data released from the news wires in the hours ahead, and you will need to follow closely if you intend to trade the euro.
There is a lot of strength when speaking of the Japanese yen in the latest round of trading. The monetary stimulus efforts do not seems to be in the headlines so much these days, which is good news if you are an ambitious trader when speaking of the JPY. It has made inroads into the greenback and the cable. Investors foresee further gains for the yen this afternoon.
Wesaw the top stocks on Wall Street tumble for the second straight trading day. Traders just do not feel that now is the time for them to go short on stocks these days. This is due to the lack of returns which are in it for them. In addition, U.S. equities were every much overbought during the previous week of trading. Therefore, the losses which we are seeing at the moment are not a surprise.
The Dow Jones slumped a whopping 0.7 percent to the 16,818.13 level. The S&P 500 Index tumbled 0.64 percent to 1,949.98.
Bank of America Corp. made losses of 0.96 percent to the $15.49 level. Facebook Inc. jumped 0.35 percent to $65.72.
Traders are hoping for there to be a bullish comeback once U.S. trading gets going in the coming hours of trading today.
We saw crude oil make gains of 20 cents this morning, as the commodity seems to be leading the gainers in the financial markets. There are good enough reasons to go long on the commodity at the moment. With there being no end to the chaos in Iraq and the dollar not showing a clear direction, going long on the black gold today could turn out to bring very high returns.
The gold binary option has rallied to its highest level in two months. The thing is that traders are of the view that the commodity has been overbought, which has resulted in them going short in the latest round of trading. In addition, traders have decided that it is a better die for them to put their money into risker commodities such as crude. Start opening daily Call options in the commodity is you want to make some mid-week profit.
There is a lot of strength when speaking of the crude oil binary option this morning. Traders feel that the commodity will continue to build on it gains, which is why you will want to get in on the action today.