Dollar Jumps Following Yesterday’s Stock Rally
It was great to see that there was a rally in American stocks during yesterday’s trading session. We have seen many big gains for global stocks in recent trading sessions. Investors just feel that it is worth it for them to go long at the moment due to the high returns which can be made from the financial markets. The dollar has made inroads into both the Aussie and the Swiss franc.
We are seeing the European single currency slide on all fronts this morning. Traders just do not feel that it is worth it for them to go long on the euro due to the lack of positive returns which can be made from the currency. It continues the declines versus the greenback and the pound sterling. The fact is that the euro is still overvalued, which has led it to decline notably in recent trading sessions. As a result, you should look into buying into the EUR/USD pair today.
The GBP was able to make inroads into a number of its other main peers during previous trading sessions. This is because traders were in the mood to take some big risk. The thing is that the GBP/USD forex binary option is lower at the moment by 0.3 percent. Investors just do not feel that now is the time to go long on the British currency.
For those of you who have been following the movement of global stocks will have seen the big gains that have been made. This has really been the case for U.S. stocks. Traders have just felt that it is really worth it for them to take big risks when it comes to investing.
The Dow Jones Industrial Average made gains of 0.24 percent to 16,573.00. The S&P 500 surged 0.29 percent to 1,890.90.
Facebook Inc. jumped 0.16 percent to $62.72. Ford climbed 0.86 percent to $16.46. Bank of America Corp. slumped 0.63 percent to $17.23.
There have been a lot of factors driving the financial markets, which in turn led to the bullishness we saw in America equities.
The fact of the matter is that the U.S. economy is steadily improving. Therefore, you should make sure to follow all of this economic data very closely. It may be that there will be big gains in the hours ahead.
The crude oil binary option is trading lower by 40 cents at the $99.23 level. One of the biggest losers when it has come to the commodities market is crude due to the much stringer dollar. The fact is that crude oil is seen as overvalued. Therefore, a number of traders are of the view that it is worth it for them to go short on the commodity. The commodity has capped its longest losing streak in four mots by sliding for the fourth straight trading day.
The gold binary option is trading lower this morning by $3.50 at the $1,287.30 level. The commodity has been under a lot of downward pressure in the past month or so. Also, the commodity has been pushed lower today due to the much stronger greenback. Bigger losses for gold futures may be the case as the trading day passes by.
We have seen the Dow Jones binary surge for about a week now, as i have so much confidence in leading American indices. It is great that traders have so much confidence at the moment. It is likely that there will be additional gains for the Dow Jones later on.