One of the most volatile currencies at the moment is the greenback. It is trading mixed this morning after the majority of U.S. equities were hit yesterday. The weakness on Monday was after there was a U.S. stock market rally last week. The AUD/USD forex binary option is trading lower this morning by 0.3 percent at the 93.95 U.S. cents level. The dollar has been able to make inroads into the cable after the pair surged notably in recent trading weeks. Traders foresee weakness for the greenback in the hours ahead.
The pound sterling has been one of the strongest currencies in the past few months. It is being backed by a number of reasons. With the economy continuing to pick up, traders have decided that it is the right time for them to go long on the cable. In addition, it is forecasted that rates will rise sooner rather than later, which gives traders the perfect excuse to go long on the British pound. Expect the GBP to make a bullish comeback in the latter hours of trading today.
The Aussie is one of the weakest currencies this Tuesday morning. Traders feel that it is worth it for them to go short on the Aussie due to it being somewhat overvalued. In addition, with there being concerns that the Australian economy has overheated, this has resulted in traders taking it upon themselves to go short on the Australian currency. However, it is forecasted that the Aussie will rise in the latter hours of trading today. Therefore, look to open daily Call options in the AUD/USD forex binary option.
It was the case that there was an important rally when speaking of U.S. stocks during last week’s trading session. The thing is that they went lower on Monday. This is because traders felt that it was not worth it for them to go long due to the lack of returns which were in it for them.
The Dow Jones Industrial Average made losses of 0.06 percent to the 16,937.26 level. The S&P 50 fell 0.01 percent to 1,962.61. The news is that the losses were not great, but do show that confidence has waned when talking of the most traded U.S. equities.
There could actually be a bullish comeback for stocks once the U.S. session gets going.
The crude oil binary option has been receiving a lot of bullish support lately. The thing is that the black gold is trading lower this morning, as the USD holds its value to a certain extent. To top this off, traders are in the mood to sell the commodity after there was a slump in U.S. stocks on Monday. Investors may want to selloff the commodity once they get a free chance this Monday.
We saw gold surge for much of last week, and the gains continued on Friday. Gold futures are lower by a few dollars this morning. The yellow metal seems to be leading the losses in the latest round of trading. The thing is that the dollar is not so weak, which has hurt the metal. In addition, traders have decided that it is a good idea to sell metals this morning due to the lack of returns which are in it for them.
For those of you who have been following the financial markets closely today will have seen that gold got hit hard. Traders feel that they should go short until data is released from the U.S.