EUR/USD Pair Slides to 11-Month Low
The dollar has been able to make very important inroads into a number of its most traded peers in the latest round of trading. The dollar jumped to its highest level in 11 most versus the euro. This has come on the speculation on the likelihood that the Federal Reserve will raise interest rates in 2015. In addition, the European Central Bank gave more clues on how they will increase economic growth. In addition, the USD climbed to its highest level versus the yen since January prior to a report from America this week which is expected to show that new home sales rebounded. Expect more gains for the greenback in the next few hours of trading.
One of the most bearish currencies at the moment is the European single currency. The reality is that the euro is trading lower for the second straight trading sessions versus its peers. Among the worst losses have been capped versus the dollar this morning. The EUR/USD forex pair is trading lower at the moment by 0.32 percent at the $1.3197 level. More losses may be on the cards for the euro this Monday afternoon.
There has been a lot of volatility when speaking of the pound sterling in the most recent trading. The thing is that the sterling made a lot of losses during last week’s trading session. The thing is that the pound fell for the seventh straight trading week versus the dollar last week. The GBP/USD pair is trading lower at the moment by 0.02 percent at $1.6568. Traders may continue to ditch the GBP/USD and sell the sterling as a whole, as traders seem to be in a bearish mood.
It was important to see that Asian stocks were able to gain in early morning trading. This was the perfect way to start the current trading week.
Hong Kong’s Hang Seng Index made gains of 0.5 percent. Japan’s Topix Index jumped 0.4 percent. South Korea’s Kospi Index climbed 0.2 percent. Singapore’s Straits Times Index rose 0.5 percent.
Toyota Motor Corp. added 0.7 percent. In addition, there were gains for a number of other stocks this Monday morning.
Now traders will be looking for data in the Eurozone and the U.S., which will be crucial in driving both European and U.S. stocks in the coming hours.
What can be said is that the Asian stock market rally will be crucial in boosting global equities in the latter hours of trading.
The Crude oil binary option is higher as of now by about two cents at the $93.77 level. In other words, prices are practically stagnant this morning, as Middle East supplies are seen as staying stable. This comes as America continues strikes on ISIS in Iraq. There may be a steady rise of crude oil futures once today’s trading gets going.
Gold futures are trading lower by $3.00 at the $1,277.20. Traders have decided that they should go short on the yellow metal this morning after there was a very important rally in Asian stocks. Traders really feel that they should take their money out of commodities at the moment. What will continue to push the gold binary option lower this afternoon is the much stronger dollar.
There has been a lot of movement with the USD/JPY forex binary option this Monday morning. Traders feel that they should go long on the pair today, as the dollar seems to be by far the strongest currency.