The dollar has been going lower as of late due to the uneven economic recovery. In addition, the greenback is holding its losses on the forecast that minutes from the Fed later today will show that rates will be kept near zero for a prolonged period. We did see strong job growth data last week, but the real unemployment lies at over 20 percent, showing just what a bad situation the U.S. economy is in it the moment. Traders may want to go long on the GBP/USD forex binary option today in order to make maximum returns from the forex market.
The good news today is that the European single currency has surged on all fronts. Among the most impressive gains have been made versus the dollar. The fact is that the EUR/USD pair has been going higher since the beginning of today’s trading session. Policymakers in the Eurozone seem to be doing as much as they can to stem the debt crisis, while the economic situation in the U.S. is volatile.
There is a lot of strength when speaking of the kiwi in the latest round of trading. Investors have decided to go long on the kiwi today due to it being upgraded by itch. It is a very positive sign, showing just how much confidence there is the nation’s currency and economy. The NZD/USD forex pair is trading higher today by 0.3 percent. Look for there to be additional gains in the hours ahead with the release of economic data from the news wires.
For those of you who have been following the financial markets closely will have seen the big losses for American stocks recently. Not so long ago, they hit all-time highs. Ever since then, traders have taken it upon themselves to go short, as they fears that prices are overinflated. In addition, with there being a very fragile American economy, traders are of the view that it is better for them to go short and wait on the sidelines until the economic situation is clearer.
The Dow Jones and the S&P500 Index were among the worst hit stocks during yesterday’s trading session. Investors are of the view that there could be additional losses in the hours ahead.
The crude oil binary option is trading lower this morning by a few cents, as traders are waiting on the sidelines until a steady flow of economic data has been released from the news wires. The commodity is trading near its lowest level in a month. This comes before inventory data will be released from the news wires in the hours ahead. Therefore, you may want to open daily Call option in about 2 hours or so.
We are seeing the gold binary option go higher today by about $8.40. Traders really do feel that it is worth it for them to go long on the metal today, as the greenback goes much lower. This has been the mentality of traders as of late. In addition, the commodity seems to be oversold, which has only encouraged trades. If you want to make maximum returns in the hours ahead, then going long is where the action is at.
Gold is one of the most bullish commodities this Wednesday morning, as investors are of the view that it is worth it for them to go long due to the high returns which are in it for them. As a result, you should follow what the experts are doing too.