We are seeing the dollar mostly higher this morning, even though it is trading lower against some of its peers. The U.S. currency has made inroads into the pound and the loonie. However, it is trading lower versus bitcoin and the Aussie. The U.S. stock market rally yesterday has really played a big role in determining the movement of the financial markets today. The economic data from the U.S. today will be key in driving the greenback.
We are seeing a lot of weakness for the euro in the latest round of trading. Investors are of the view that the euro has been overbought. This has resulted in it sliding versus the greenback and a basket of other currencies. This is why you need to be very cautious while trading the financial markets these days. There is some weakness in Germans stocks at the moment, which has led to negative sentiment when speaking of the region’s assets. This is why you may want to go short in the hours ahead.
The Japanese yen is trading higher versus a number of its main currency counteracts this morning. This is after it underperformed in recent trading sessions. Traders have decided that they should keep much of their money in havens still. However, this does not mean that they won’t decline later This is why you need to be very alert when it comes to the data published from the wires in the hours ahead.
We saw stocks make impressive gains in the previous 2 trading sessions. Investors have decided that they should go long on U.S. equities lately. This is after they got hit very hard in the early part of the trading week. This shows just how quickly the situation can change in the markets from day to day. the really is that the U.S. economy is doing okay at the moment, meaning there may be additional gains for leading American equities in the days ahead.
The Dow Jones Industrial Average surged 0.06 percent to 16.543.08. The S&P 500 jumped 0.24 percent to 1,892.49.
Traders may want to open Call options in the leading equities once they get a free chance later.
There was strength for the crude oil binary option not so long ago, but it is now weaker by 4 cents. With the dollar upholding much of its value, this has ended up hurting the crude oil binary option. The losses for crude come as of now, even though there were big gains in U.S. equities during yesterday’s trading session. Despite the losses we have seen this morning, the commodity is eying its third straight weekly gain on lower U.S. supplies.
The gold binary option is trading lower this morning by about $3. Traders just do not think that it is the tight time for them to go long on the yellow metal this morning. This is because it is simply bot offering them the returns which they deserve. In addition, with the dollar losing its value somewhat, traders have felt that gold is overvalued. This helps us understand why the yellow metal is so weak in the latest round of trading.
For those of you who have been trading the financial markets closely will have noticed that the Dow Jones has been making important gains in the previous 2 trading sessions. The reality is that the U.S. economy is quite healthy at the moment. This means there is set to be additional gains for the Dow later on.