We saw the greenback going down for much of this week’s trading session. The good news for the American currency is that it has managed to make inroads into its peers in the past day or so. In fact, the dollar was weaker yesterday morning, but surged as the trading day passed by. This was unexpected, and shows just how quickly the situation in the forex market can change from day to day. The USD/CHF forex binary option is trading higher this morning by 0.05 percent at 88.06 centimes.
The European single currency is headed for a weekly drop on Draghi eying a June policy move. The euro is actually set to fall for the first week in three. This is following European Central Bank President Mario Draghi saying that there may be an easing of policy in June. In addition, the dollar has capped its longest weekly fall versus the yen is a month. Since May 2, the euro has ended up making some very big losses versus its peers.
There has been a lot of strength for the yen during the current trading week. Investors have opted to go long on the Japanese currency due to there being a lot of risks in the financial markets. In addition, the Bank of Japan decided to cut back on economic stimulus. The result has been more confidence in the nation’s currency. Investors are looking to go long on the JPY this Friday.
There was a big fall in American stocks on Thursday following the gains which they made during Wednesday’s trading session. Moreover, equities were actually more bullish for the early morning on Thursday.
It is true that jobs data came out better than was forecasted yet again, but this just was not enough for stocks.
The Dow Jones Industrial Average made gains of 0.2 percent to 16,550.97. The Nasdaq dipped 0.4 percent to the 4,051.50 level. The S&P 500 slumped 0.14 percent to 1,875.63.
Facebook Inc. dipped 1.1 percent to $56.76. Yahoo made losses of 0.44 percent to $33.92.
Crude oil futures are higher this morning by 29 cents at the $100.55 level. The commodity is headed for its first weekly advance since April. This has come about amid crude supplies declining for the first time in over a month in America, the largest global consumer of the commodity. However, the commodity slumped 0.5 percent during yesterday’s trading session. Traders were surprised by the decline in stockpiles, as they expected them to rise. It is forecasted that the commodity will jump during next week’s trading session. This is on the speculation that stockpiles will decline further. In addition, a surge is likely due to growing tensions between Russia and Ukraine.
The gold binary option is trading higher this morning by $3. Traders are in the mood to go long on the commodity today after it made losses yesterday. The gold binary option slumped for the third straight trading session yesterday on the demand for the precious metal as an alternative investment declining. Traders still fear that there will be a drop in gold prices in the next few trading days.
One of the star performers as of late when it has come to U.S. indices has been the Dow Jones. Traders have been in favor of going long on the American index due to the very high returns which it has on offer for them. If the U.S. posts positive data today, then this will end up giving the Dow a further boost.