Dollar Higher versus 15 out of 16 of its Main Peers
The greenback is trading higher against 15 out of 16 of its most traded peers. The USD managed to rebound from a two-week low versus the euro. This comes before the Fed releases its Beige Book survey later today. The USD/CHF pair is higher at the moment by 0.4 percent at the 90.60 centimes level. USD/JPY has climbed this morning by 0.06 percent to 104.28 yen.
There is a lot of weakness this morning when it comes to the British pound today. The GBP/USD currency pair is lower as of now by 0.34 percent at $1.6389. The pound has also made very big losses versus the European single currency. Traders just do not feel that it is worth it for them to take risks when it comes to the British pound at the moment. Therefore, you may want to look into ditch the GBP/USD pair.
There is a lot of mixed behavior when speaking of the euro as of now. The EUR/GBP cross is higher at the moment by 0.02 percent at 83.22 pence. Investors have bought into the pair since the beginning of today’s trading session. It is important for you to take into account that there is much volatility in the forex market today. There will be a lot of economic data published from the global economy in the hours ahead. This means you will want to trade the EUR/GBP cross as it is all released from the news wires.
The S&P 500 Index managed to make some very important gains during yesterday’s trading session. This came on the better than forecast retail sales data. In addition, with news showing corporate mergers, investors took the opportunity to go long on stocks and indices on Wall Street yesterday. It was simply great to see that investors were so confident during yesterday’s trading session.
The Dow Jones Industrial Average made gains of 0.71 percent to the 16,373.86 level. The Nasdaq Composite Index climbed 1.69 percent to 4,183.02.
Intel Corp. gained 3.96 percent to $26.51. Ford jumped 1.8 percent to $16.40.
Crude oil futures are trading higher this Wednesday morning by 22 cents at the $93.00 level. This comes on the forecast that U.S. crude stockpiles will slide and of high growth in the U.S. economy. These two factors seem to be good enough to give investors a lot of confidence in the latest round of trading. It is important to account that the black gold climbed yesterday by 0.9 percent. With U.S. retailed sales coming out positive, this may lend crude a helping hand later today.
The gold binary option is trading lower this morning by $6.60 at the $1,238.80 level. Traders have decided that it is time for them to sell the yellow metal this morning. This is largely due to the very positive economic data from the American economy. With there being fewer risks in the financial markets, it seems very profitable to go short on the yellow metal. This comes after gold futures advanced during yesterday’s trading session.
The Dow Jones managed to make some very important gains yesterday afternoon. This comes after many days of showing instability. There was data which came to negative last week such as poor employment figures. The good news is that there was a string of economic data that came out positive in recent trading days. It is likely that there will be big gains in the hours ahead with the Dow Jones binary option.