The dollar was able to make steady inroads into a number of its peers at the end of the previous trading week. The GBP/USD forex binary option went lower by a significant amount. However, the dollar wasn’t able to make inroads into the loonie. This was because of the high inflation rate we saw according to April’s figures. Still, the greenback is a currency which traders should not right off if they intend to trade the currency market.
The European single currency was one of the worst performers during Friday’s trading session. It ended up making some very big losses versus the pound and the dollar. Traders just felt that there were simply not enough factors backing the euro. This is why you may want to be very cautious when investing in the euro if you intend on increasing your returns from the forex market. There will need to be some positive sentiment stemming from Draghi’s speech today in order to lend the euro a helping hand.
It was true that the loonie was able to make inroads into the greenback on Friday. The thing is that the USD/CAD forex binary option is already higher this morning by 0.1 percent, as investors understand that the CAD is overvalued. In addition, the U.S. dollar is undervalued. Both of these factors seemed to have ended up really hurting the CAD today. Therefore, look into going short on the loonie once you get a chance.
For those of you who have been following the financial markets very closely as of late would have seen the gains which we saw with regards to American stocks and indices.
The Dow Jones Industrial Average made gains of 0.38 percent to 16,606.27. The S&P 500 Index advanced 0.42 percent to 1.900.53.
Bank of America Corp. climbed 0.07 percent to $14.72. Facebook Inc. jumped 1.37 percent to $61.35.
There will be bank holidays in the U.S. and U.K. today, which means there will be additional attention on other markets. As stocks will be very much on focus, traders are hoping for more gains after the bullishness which we saw during Friday’s trading session.
The thing is that we saw the crude oil binary option climb both during last week’s trading session and during Friday’s session. However, it is trading lower this Monday morning, as investors understand that the gains for the black gold have been overdone. Therefore, do not be surprised if the commodity continues its dive into the abyss in the hours ahead. Taking this into account, look to open Put options in the crude oil binary option once you get a free chance.
Gold was a decliner during Friday’s trading session. Investors decided that it was time for them to take their money out of the yellow metal due to there being a number of other assets which they could put their money into. There is likely to be a lot of volatility when it comes to the commodity today, which is why you will want to be extra cautious if you are up for making maximum returns. Losses may be on the cards, so get ready to open your daily Put options.
Crude oil has been one of the most unpredictable commodities to invest in in recent weeks and months. A factor which did help give the energy a big boost was the supplies of crude in Cushing, Oklahoma sliding. In addition, the commodity was helped by much positive economic data.