Dollar Dives on Mixed U.S. Data
There were very big losses for U.S. dollar during yesterday’s trading session. It was unfortunate to see that the greenback went much lower versus the majority of its major peers. The good news for the U.S. economy, which may actually help the dollar on Wednesday, was the upbeat consumer confidence data published during Tuesday’s trading session. On the other hand, the weak durable goods orders data came out much worse than was expected. This all came prior to the FOMC starting a two-day meeting. Overall, traders feel that another bearish day for the dollar may lie ahead this Wednesday.
There was some very good news when it came to the European single currency during yesterday’s trading session. Even though there were some very important gains for the euro on Tuesday, there are fears that there will be a mass exodus from European assets. In the six months through August, investors took a mass amount of money out of the Eurozone. This led the euro to slide versus a basket of other currencies. Traders are hoping the EUR will extend Tuesday’s gains in the hours ahead.
The Aussie went higher and higher during Tuesday’s trading session. Investors were of the view that they should go long on the Aussie as the economy is still pretty strong. This is despite China’s economy not growing as fast as it used to in the past. It is highly likely that the AUD/USD forex binary option will build on its gains in the next few hours of trading this Wednesday.
There was some very good news when speaking of U.S. and Asian stocks during Tuesday’s trading session.
American stocks ended up surging, extending the gains which they made last week. Investors seem to have so much confidence at the moment.
The very positive corporate earnings data boosted U.S. stocks on Tuesday.
We have seen the S&P 500 Index rise to within two percent of its all-time high. They feel that economic data and earnings back buying into stocks on Wall Street.
The Dow Jones and the S&P 500 Index jumped since the commencement of the trading session on Tuesday.
It is forecasted that the U.S. will see some very heathy growth, especially as the U.S. economy is growing faster than other developed economies.
It was great to see that the crude oil binary option made some big gains on Tuesday. The fact is that the commodity started to go higher since the start of yesterday’s trading session. Moreover, we saw the black gold rise for the first time in three days. This came after a report showed that confidence among American surged in October. Traders are hopeful of another surge in crude prices in the coming hours of trading today.
Gold has been trading sideways for the past few trading days. It was the case that gold futures started Tuesday’s session higher. The thing is that the commodity gradually went lower as the trading day dragged on. One thing to take into account is that the losses were not great. Investors are of the view that it is better for them to stay away from buying into gold during today’s trading session.
The crude oil binary option is one of the hottest commodities at the moment. Traders have decided to go long on the commodity due to it being undervalued. Look to open daily Call option this morning if you want to make some high returns while investing in the commodities market.