The dollar is trading lower on all fronts this morning after it performed very well in the previous week of trading. There seems to be a lot of confidence in the financial markets after the weakness we saw in American stocks during yesterday’s trading session. The bearishness has ended up putting a lot of downward pressure on the greenback in the latest round of trading. The dollar is trading lower versus the Aussie, loonie and the Swiss franc. Further declines are on the cards in the hours ahead.
The European single currency is one of the strongest currencies this morning. It has made impressive inroads into the dollar and the pound. This comes even though there has been a lot of instability in the forex market as of late. It seems that investors have realized just how undervalued the EUR has been, which has given them a lot of confidence to go long on all fronts when it has come to the European single currency.
The GBP/USD forex binary option is trading higher this morning by about 0.07 percent. It seems that investors have a lot more confidence on the sterling this week after it underperformed during the precious week of trading. Do not be surprised if we see additional gains for the pound this afternoon.
The leading stocks in America ended up making some very big losses on Monday. They have tumbled for the second straight trading session, as investors fear that the gains which they made up until Thursday evening were overdone. This has led them to take out a lot of the profits which they made.
Among the biggest losers when it came to the leading indexes were the Dow Jones and the S&P 500.
Bank of America Corp. made losses of 2.03 percent to the $16.38 level. Facebook Inc. advanced 0.35 percent to $56.95. Pfizer Inc. tumbled 2.99 percent to $31.20.
Traders will be looking how the financial markets behave in the hours ahead in order to help them make some very important trading decisions.
The fact of the matter is that there will be many opportunities to invest in the top U.S. equities later on, so make sure to stay focused.
The good news is that the crude oil binary option is trading a lot higher this Tuesday morning. This is despite there being a lot of instability when it came to the black gold in previous trading sessions. This shows just how quickly the situation in the commodities market can change each trading day. A big factor that seems to be supporting the commodity is the much weaker dollar. With crude oil priced in dollars, the weakness which we are seeing at the moment is not a surprise. Look to go long in the hours ahead.
The gold binary option is trading higher this morning by about $10.00. There has been a return in confidence in the commodity since the beginning of Friday’s trading session. This is following very big losses which the commodity made over many weeks. More gains are set for gold, so start opening your daily Call options.
There has been a lot of movement when it has come to both the euro and the dollar in recent trading days. The fact of the matter is that there are so many factors driving the financial markets at the moment. This will need to be taken into account while you trade the forex market today. Get ready to go long on the GBP/USD pair.