Dollar Surges on Fed Rate Forecast
The U.S. dollar is one of the most bullish currencies at the moment. The EUR/USD forex binary option is trading lower as of now by 0.08 percent at the $1.3353 level. The USD/JPY pair has climbed 0.03 percent to 102.60 yen. The dollar has made inroads into a number of its other main peers. This has come on the improved economic growth. This has increased the case for the Fed to raise interest rates. The reality is that the U.S. economic data has been specifically supportive of the greenback. We have seen U.S. consumer prices to continue to rise, so look into going long on the U.S. dollar once you get a chance today.
The good news is that the Australian dollar has surged versus its main peers this Tuesday morning. It is trading higher versus all of its major peers. The gains for the Aussie come as the central bank stated that rates are expected to be kept at hold. This has turned out to support the Aussie, which is why you may want to look into going long on the AUD/USD forex pair. In addition, make sure to follow all the economic data from the U.S. will trading the pair.
The New Zealand dollar is trading lower for the third straight trading session. It has tumbled versus all 16 of its main currency counterparts in the latest round of trading. The thing is that producer output prices dipped 0.5 percent in the second quarter of 2014 from the previous three months. In addition, input prices slumped 1 percent. Traders should be very cautious while trading the kiwi during today’s trading session.
There was a very big rally for U.S. stocks during Monday’s trading session. Investors felt that it was worth it for them to take risks when speaking of American equities. It seems stocks were supported by much investor confidence and a very bullish dollar.
The Dow Jones Industrial Average advanced 1.06 percent to the 16,838.74. The S&P 500 jumped 0.85 percent to 1,971.74.
Bank of America Corp. made gains of 0.23 percent to $15.45. Apple Inc. advanced 1.20 percent to $99.16. Intel Corp. added 0.70 percent to $34.41.
There will be a lot of economic data published from the news wires in the hours ahead. Following it closely will be very important while trading the top stocks on Wall Street.
The crude oil binary option is trading higher this morning by 46 cents at the $94.21 level. The good news is that the commodity has been able to add significant value after hitting recent lows. Even the strong dollar has not hurt the commodity in the most recent trading. If there is more positive economic data published later today, then this could lend the black gold a helping hand.
The gold binary option is trading a touch higher in the latest round of trading, as investors have a lot of confidence in commodities this Tuesday morning. This was after there was a decline for the yellow metal during yesterday’s trading session. Traders may want to stay away from the precious metal l in the hours ahead in order to minimize risks.
The GBP/USD forex pair is trading lower as of now by 0.20 percent at $1.6693. Traders have decided that it is better for them to go short on the GBP/USD pair. Investors should look to ditch the pair in order to make maximum returns from the currency market in the latter hours of trading.