There has been a lot of strength when speaking of the U.S. dollar in recent trading sessions. However, the greenback retreated versus the yen on Monday. The greenback gained ground versus bitcoin for much of yesterday’s trading session. However, it lost ground versus the sterling. Investors are of the view that they dollar will slide versus most of its peers in the hours ahead, as the dollar is seen by some as overvalued.
The European single currency ended up sliding to its lowest level in 5 weeks versus the greenback. This came due to a stamen by leaders of the ECB that stimulus is likely in order to give the Eurozone economy a much needed boost. It is expected that the weakness for the euro will not be sustained unless the ECB becomes very aggressive with regards to its monetary stimulus program. The euro ended up making some losses versus the greenback yesterday. It may actually climb versus the dollar as the trading day passes by.
There has been a lot of strength when speaking of the British currency in recent trading sessions. This is as it offers investors very high returns each trading day. Investors just feel that now sit h tem for them to go long on the GBP due to the great strength of the British economy. However, the rally may be put on hold prior to the release of the Bank of England inflation report by Mark Carney.
We have seen a lot of action when speaking of American stocks as of late. The thing is that here was not so much volatility during yesterday’s trading season. The thing is that the Dow Jones and the S&P 500 are still trading at an all-time high.
We saw the S&P 500 Index hit the 1,900 level for the first time. The Dow was able to extend its all-time high, a fifth straight day of gains for the leading American index.
It is great to see that traders are soiling to take risks when it comes to U.S. stocks and indices as of late. There may end up being further gains in the hours ahead.
There has been a lot of strength when speaking of the crude oil binary option as of late. Traders have decided that it is the time for them to go long on the commodity due to the very high returns that it has to offer them. To top this off, the commodity has jumped on the forecast that U.S. crude supplies will continue to dwindle. Therefore, you may want to look into opening daily Call options with regards to crude oil futures this Wednesday morning.
It is forecasted the gold binary option will slide in the near future. This is foreseen by traders due to the rally in U.S. and other regional equities markets. With there being fewer risks in the financial markets, this is bound to take its toll on the gold binary option. If the dollar also climbs in the medium term, then the impact on gold prices may turn out to be very negative. Therefore, be cautious while trading the metal.
A currency which the greenback is expected to make inroads into in the next few hours of trading is the loonie. The fact is that the dollar is undervalued against the Canadian currency. Therefore, traders will want to look into opening Call options in the USD/CAD forex binary option as the trading day drags on.