Dollar Heads for Best Month Since 2012
The dollar has gone from strength to strength in recent weeks, allowing the dollar to nearly cap its best month since 2012. It seems that the stronger U.S. economy has really ended up helping the greenback. The stronger American economy has boosted the forecast that U.S. rates will be increased in the second half of 2015, prior to a number of other industrialized countries. On Friday alone, the USD/CHF currency pair made gains of 0.51 percent to the 91.14 centimes level. The AUD/USD pair has tumbled 0.29 percent on Friday alone to finish the session at the 87.62 U.S. cents level. Traders expect further gains for the greenback today.
There has been a lot of movement as of late when speaking of the sterling in recent sessions and especially on Friday. The GBP/USD forex binary option is trading lower at the moment by 0.44 percent at $1.6245. All of this has come after the vote for Scotland to stay in the U.K. The thing is that the pound sterling has been able to make notable inroads against the euro. What we saw on Friday was more of dollar strength rather than pound weakness. Therefore, do not jump to conclusions while trading today.
For those of you who have been trading the forex market as of late will have noticed how much weaker the euro has gone. The EUR/USD forex binary option tumbled on Friday by a whopping 0.52 percent to end the session at the $1.2684 level. There are a number of reasons why traders have taken it upon themselves to go short on the euro is the decision by leaders to inject mores stimulus into the Eurozone. Investors may want to continue going short on the euro once they get a free chance as the trading session gets underway.
We have seen a lot of strength with regards to U.S. equities during Friday’s trading session. Investors decided that they should go long after there was so much weakness during Thursday’s trading session. Investors simply realized that it was time for them to buy into the top stocks after they were oversold previously.
What really gave the top stocks on Wall Street a really big boost on Friday was the very positive earnings figures from many of the leading U.S. companies.
The Dow Jones Industrial Average advanced 0.99 percent to the 17.133.15 level. The S&P 500 Index added 0.86 percent to 1,982.85.
Apple Inc. advanced 2.94 percent to $100.75. Facebook Inc. made gains of 2.03 percent to $78.79.
It was great to see that crude oil futures were able to surge a whopping 85 cents during Friday’s trading session. Investors understood that the black gold was oversold. With there being a very important U.S stocks market rally during the same session, it seemed only natural for traders to go long on the black gold. Look to open daily Call options in the crude oil binary option once you get a free chance this morning.
The losses for the gold binary option are no surprise. Traders decided to go short on the yellow metal as there was simply a lack of demand for metals. This came as the dollar went very bullish. If stocks go even higher in the hours ahead, then gold futures may go even lower. Therefore, look to ditch gold futures this morning.
The way to go today is open daily Put options in the gold binary option with traders likely to put their money in alternative assets.