Dollar Surges Before the Release of Jobs Data
The dollar has managed to gain ground on all fronts this morning on the release of positive jobs data. Traders are of the view that it is really worth it for them to take big risks due to the returns which are on offer for them when it comes to trade the markets. The EUR/USD forex binary option is trading lower this morning by 0.18 percent at the $1.3567 level. The dollar has also made important inroads into a number of its other peers.
The euro is by far the weakest currency this morning as investors are of the view that now is the time for them to take their money out of risky currencies. This has been the case since the beginning of today’s trading session. Among the biggest losses shave been made versus the pound sterling and the euro. Look for the euro to make additional losses later on.
The Australian dollar was among the most bullish currencies during yesterday’s trading session. Investors felt that they should put their money into the Aussie as the reserve Bank of Australia delayed cutting interest rates. However, the Aussie has ended up making some big losses this morning versus the greenback and a number of its other main currency counterparts. With the U.S. Federal Reserve pressing for the reduction of stimulus, this has led traders to ditch the AUD.
It seems that U.S. equities were able to make an impressive comeback during yesterday’s trading session. Investors were of the view that taking risks were worth it for them. The fact is that American stocks were oversold, so traders found the perfect opportunity to go long during yesterday’s trading session.
The Dow Jones Industrial Average made gains of 1.22 percent to 15,628.53. The Nasdaq Composite Index climbed 1.14 percent to 4,057.12.
Bank of America Corp. jumped 1.77 percent to $16.69. Facebook Inc. slumped 0.05 percent to $62.16.
There could end up being another round of gains with American stocks this afternoon, so be very prepared.
Crude oil futures have made some very important gains recently, but the reality is that they are trading lower this morning by about 40 cents. The weakness for the black gold comes as the dollar begins in value. With crude oil being priced dollars, a stronger dollar usually has the effect of driving down crude prices. All of this is exactly what we are seeing on Friday morning. However, if the jobs data from the American economy turns out to be positive, then this could actually help crude oil futures make a bullish comeback in the latter hours of trading. Therefore, be prepared for this type of possibility.
The gold binary option has made gains of $4.10 in the latest round of trading. It has been trading higher since the beginning of today’s trading session. Investors just feel that gold has underperformed recently, so the gains which we are seeing at the moment are a great relief. It is likely that gold will build on its current gains, so look to open Call options.
One of the most bullish currencies this morning is the EUR/USD. Investors are of the view that it is worth it for them to open Call options in the EUR/USD pair. This has been the mentality of traders in the past few hours due to the high returns which can be made each trading day. Call options seem to be the way to go for the EUR/USD forex binary option, so get in on the action.