The dollar has been one of the most unreliable currencies in previous trading sessions. Investors have not been in the mood to go long on the greenback. The good news for dollar bulls is that it has been able to go bullish since the beginning of today’s trading session. There seems to be a lack of demand for weaker currencies this morning, which has ended up lending havens such as the greenback a helping hand. The dollar has made inroads into the Aussie, euro and the pound. The GBP/USD forex binary option is lower this morning by 0.07 percent at the $1.6808 level. Traders feel the dollar will make further gains later on.
There seems to be a lot of weakness when speaking of the European single currency in the latest round of trading. Investors have decided to sell the euro on all fronts this morning as there is a very little demand when speaking of risky currencies. To top of this, the ECB took it upon themselves to slash rates into the minus territory. A big risk taken may continue weakening the euro, so stay tuned.
For those of you who have been trading the pound sterling will have noticed that it has lost a certain amount of its steam this morning. The good news though is that the cable has been able to surge to an 18-month higher versus the euro. Therefore, it would be a bad idea to completely write off the GBP. The slump of the EUR/GBP cross came after the ECB slashed rates into the minus territory. This was a big gamble, and is likely to continue putting additional downward pressure in the coming hours.
There was a big rally in U.S. stocks during yesterday’s trading session. Investors were in the mood to take some very big risks when it came to investing in the financial markets. The gains came about as the European Central Bank decided to cut interest rates. This is set to give traders additional confidence in the hours ahead to go long on U.S. equities.
The Dow Jones Industrial Average made gains of 0.59 percent to the 16,836.11 level. The S&P 500 jumped a whopping 0.65 percent to the rate of 1,940.46 yesterday.
We are seeing the crude oil binary option trading lower this morning by about 10 cents. Traders are in the mod to go short on the energy. The reality is that commodities are trading in the negative territory this morning. Traders are of the view that now is the time for them to put their funds into equities over commodities. This means crude may continue sliding later on.
It is good to see that the gold binary option has managed to make important gains in the latest round of trading. Investors just feel that it is worth it for them to go long on the metal. Traders will want to look into going long on the metal today if they are up for making maximum returns from the financial markets.
The Dow Jones binary option has been able to make very important gains in recent trading session, and we forecasted correctly that it would climb yesterday. Investors have decided that they should go bullish on the leading U.S. Index due to the strength of the American economy. In addition, with the ECB slashing interest rates, this has given traders the much needed confidence to take risks when investing in the markets.