Crude Oil, Gold Head Higher Tuesday Morning
The dollar is very unstable this morning, partially due to the upcoming holidays. In fact, the greenback is actually trading in a mixed fashion in the latest round of trading. The AUD/USD forex binary option is trading lower as of now by 0.18 percent at the rate of 0.8118 U.S. cents. The thing is that the dollar has lost ground vs. bitcoin and a basket of other currencies. The reality is that the greenback is still overvalued, so do not be surprised if it loses ground as the trading day passes by. There will be important housing data released from the news wires from America later on, so get ready to open your dollar positions to make maximum returns.
The good news for the euro is that it has been able to gain ground versus the greenback and the yen. Traders just feel that the losses for the European single currency in previous trading sessions have been overdone. Therefore, do not be surprised if the euro continues to gain ground as the trading day drags on. Look to open daily Call options in the EUR/USD forex binary option in order to make maximum returns.
The yen is one of the weakest currencies this morning. The USD/JPY forex pair has surged this Tuesday by 0.07 percent to 120.14 yen. Traders are of the view that it is the time for them to go short on haven currencies due to there being many trading opportunities. Moreover, there was a global stock market rally, prompting traders to sell the yen and Swiss franc, and go long on counter currencies. Expect more of the same in the next few hours of trading.
The S&P 500 managed to rise to a record high on Monday, the fourth day of gains for the S&P 500. In addition, there were very big gains for leading American stocks, led by banking and tech shares. There has been a surge in risk appetite from the middle of the previous trading week. It seems that the improving economic data from America has lent a helping hand to American and global stocks.
The economic data this Tuesday afternoon that will be published from America will be key in driving equities in the latter hours of trading.
The Dow Jones binary option climbed 0.87 percent to the 17,959.44 level. The S&P 500 surged 0.38 percent to the rate of 2,078.54.
The good news is that the crude oil binary option is trading higher in the latest round of trading. This was after it ended Monday’s session much lower. Traders are of the view that the losses for crude have been exaggerated. The gains this morning come in spite of the Saudis stating $20 crude in the not so distant future may be a possibility. Crude oil futures are trading higher this Tuesday morning by 20 cents, and more gains are on the cards.
The gold binary option has edged higher, as trader feel that it is time for them to take advantage of the thin trading now. More gains are set for gold in 2015 after the commodity went much weaker in 2014. However, you should still try and benefit from the rising prices to make big returns before Christmas.
If you want to continue making high returns from the leading indexes later this Tuesday, then going long on the S&P 500 is where the action is at. Please take note that bullish American data will be pivotal in boosting the S&P 500 later on.