Dollar Climbs Eighth Time in Nine Weeks
The gauge for the U.S. dollar rose for the eighth time in nine weeks, indicting just how much strength there is in the American currency at the moment. It was able to make inroads into the yen, Swiss franc, euro, pound and a number of its other widely traded peers. The fact of the matter is that the U.S. economy is growing at a very fast pace these days. However, the main factor which is really lending the greenback a helping hand is the forecast that interest rates will be raised in 2015. The dollar is headed for gains this year against 30 out of 31 peers, showing what confidence there is in the USD.
The euro did make some big losses versus the greenback during the trading week, but managed to make inroads into the yen and a number of its other peers. The fact is that the euro is oversold at the moment, especially versus the greenback, which may prompt traders to go bullish on the EUR in the coming week of trading. Gains are likely to be made versus the cable, Aussie and dollar, so get ready for this.
One of the most volatile currencies at the moment is the Canadian dollar. Traders have felt that it is the time for them to go short on the loonie after the gains which stocks in the nation were able to make at the end of the trading week. In fact, the Canadian currency is heading for its weakest level in five years, as traders put their money into alternative assets. Be very cautious while trading the loonie in the upcoming trading we.
For those of you who have been trading U.S. stocks in recent weeks will have noticed the weakness that has been in the markets. The good news is that stocks in America and other countries were able to make a very important comeback during the trading week. This came as investors realized that global stocks were oversold, and they can buy their favorite stocks at basement prices.
There were not just gains in U.S. stocks, as we saw much strength when speaking of Canadian, Chinese, U.K. and European stocks. It seems that investors feel that going long at the moment is where the action is at.
There may be thinner trading volume due to the holidays in the week ahead, but look to go long on U.S. stocks again.
The crude oil binary option was able to gain during the week that just passed. It rose by about 0.8 percent, making the gains during Friday’s trading session. Investors took advantage of the low prices, and went long on all fronts. The fact is that the commodity is oversold at the moment, and those of you who realize this will be able to make big money by going long anytime soon.
The gold binary option saw some big losses during the week that just passed. This was largely due to the very bullish dollar. With the U.S. set to increase rates as early as April 2015, it is no wonder that traders have taken it upon themselves to sell gold. Look to open weekly Put options once Monday’s trading gets going in order to make maximum profits.
For those of you who are looking to make big money from the markets in the week ahead may want to go long on the Dow. There is still more room for more advances, so look to go long once you get a chance.