The dollar is trading higher on all fronts this morning after it slid to its lowest level in a month versus the euro yesterday. This came after economic data from the U.S. came out much worse than forecast. The U.S. currency slumped for the third straight months versus its Japanese currency counterpart. The EUR/USD forex pair is lower this morning by 0.05 percent at the $1.36686 level. Traders feel that the dollar may actually decline later today, meaning that the EURUSD pair could make a bullish comeback. Therefore, daily Call options in the EUR/USD are the way to go this Tuesday.
The Aussie is one of the most bullish currencies in the most recent trading. Investors feel that now is the time for them to go long on the AUD due to traders being willing to take risks when speaking of the currency market this morning. This is even though there was weak economic data published from the U.S. yesterday. The Aussie may continue making inroads into the greenback this morning, so look to go long on the AUD/USD currency pair.
We are seeing a lot of weakness when speaking of the Japanese yen in the latest round of trading. Investors are of the view that it is worth it for them to ditch the JPY due to the lack of returns which it offers them. This is after the USD/JPY pair was recently trading near a six-week low. Investors feel that there could big gains for the pair in the latter hours of trading today.
Asian stocks are trading at their highest level in six years. It was great to see that there was a rally this morning. The rally in Asian equities overall this Tuesday was sparked by a surge in Japanese stocks. The reality is that the economic data from the region has improved in recent trading days. Therefore, it is not a surprise that there have been such impressive gains as of late.
Taiwan’s Taeix Index added 0.5 percent. Singapore’s Straits Times Index climbed 0.5 percent.
There will be a lot of economic data published from the news wires today, and the Asian stock behavior will be key in driving U.S. assets in the hours ahead.
The crude oil binary option is trading higher this morning by 37 cents, as traders seem to be in the mood to take risks in the financial markets. The advances come as traders forecast that the dollar will weaken, while riskier assets will end up doing very well in the hours ahead. In addition, traders have gone long on the black gold this morning as manufacturing expands at its fastest pace in 2014. Moreover, as long as the Iraq crisis prolongs, there will be a lot of upward pressure on crude prices.
We are seeing gold futures trade near their highest price level in three months. This comes after the commodity underperformed yesterday. In addition, with the dollar beginning to lose its value, it seems the perfect time to go long on the yellow metal. Traders may want to look into opening daily Call options in gold to make maximum returns from the commodities market this Tuesday.
If you are someone who is looking to make a lot of money from the markets in the hours ahead, then going long on the gold binary option is where the action is at. Traders simply feel that they should take risks in the markets at the moment, so buying into gold is the way to go.