The dollar recently plunged to its lowest level in five weeks versus the yen. The USD/JPY currency pair is trading lower this morning by 0.29 percent at the 101.44 yen level. This came abut on signs of an uneven U.S. economic recovery. In fact, a gauge for the greenback dipped for the third straight trading day, compounding the USD’s losses. The U.S. currency may continue to extend its losses due to the reality that the Fed will keep borrowing costs near zero. Look to sell the USD/JPY forex pair today.
There seems to be a lot of support when speaking of the yen in the latest round of trading. Investors seem to be in the mood to go long on the yen, as traders ditch the dollar. The yen has managed to make very important inroads into the greenback this morning. With there being a big slump in U.S. equities yesterday, the yen seems to be the perfect alternative. Traders feel that the yen will get even stronger in the hours ahead.
The kiwi surged versus its U.S. currency counterpart this morning. There just seems to be so much risk appetite at the moment. This is even though there was a slump in U.S. stocks yesterday. The kiwi has been in very high demand as of late due to the booming economy of New Zealand. Investors foresee additional advances when speaking of the NZD today, so you may want to start buying the NZD/USD forex pair when you get a chance.
There ended up being a big slump when it came to U.S. stocks during yesterday’s trading session. Investors were in the mood to go short due to the lack of returns which were on offer for them. This is after there was a big amount of gains on Wednesday. This shows just how unpredictable the movements in the markets can be.
Traders are of the view that the American economy is not in as strong a position as leaders say it is in. This has led them to be more cautious as of late. You may want to adopt the same temperament if you are up for making maximum returns for the financial markets.
Among the biggest losers were the Dow Jones and S&P 500 on Thursday afternoon.
Crude oil took a big hit yesterday, even though it was higher for much of the session. Traders decided to sell the black gold in the latter hours of trading yesterday. It seems that traders took it upon themselves to take their profits out of the black gold before the end of the trading week. Be cautious while trading the commodity during afternoon trading.
The gold binary option has been very volatile in recent trading sessions. The gold binary option is about level this morning, as trader what developments from the leading economies. The good news is that the metal surged to its highest level in two months yesterday. It may be that the commodity will continue being flat today, but will continue its bullishness in the early part of next week. With this in mind, look too pen weekly Call options in the yellow metal.
Traders have decided that it is best for them to go short on the black gold this Friday morning. This is after it rose in the early part of the trading week. Get ready to open Put options in the commodity today.