The U.S. dollar is trading much lower versus its peers this morning. Traders have taken it upon themselves to sell the greenback today, as it is simply not offering them the returns which they deserve. They have instead decided to put their money into currencies which are more risky and higher yielding. The dollar has lost ground versus bitcoin in the latest round of trading. The GBP/USD forex pair is higher as of now by 0.03 percent at the $1.3764 level.
The European single currency is trading higher on all fronts this morning. Traders simply feel that they should go long on the euro due to the very high returns which it has on offer for traders. The euro has made inroads into the pound sterling and the greenback. With the worst of the debt crisis behind us, this has managed to lend the euro a helping hand. Therefore, look to go long on the EUR/USD pair once you get a free chance.
There is a lot of strength when speaking on the pound sterling in the latest round of trading. It has been able to make inroads into the greenback this morning. This is even though it was weaker versus the American currency last week. This shows just how quickly the situation can change in the currency market from day to day. The facts on the ground show that the pound’s strength is not a paper tiger. This is because with the housing market and the manufacturing sector in Britain improving, more gains may be on the cards for the GBP.
There ended up being a lot of strength when it came to U.S. stocks during Friday’s trading session. Investors were in the mood to go long due to the positive earnings of a number of leading American companies. To top this off, there has been a commitment by the Fed to back the American economy. Traders understand this, and that is why they are willing to take big risks when it comes to U.S. equities at the moment.
There may end up being some big gains this Monday afternoon.
One of the most bullish commodities today is the crude oil binary option. It has managed to surge 20 cents this morning, as the dollar goes much lower. The advances for the black gold also come on the back of a Friday U.S. stock market rally. Therefore, there is simply much confidence in the financial markets this morning. In addition, there are still tensions with regards to the Ukraine crisis. This seems to be on the minds of traders at the moment. Look for the commodity to continue going higher as the trading day passes by.
We are seeing the gold binary option continue the gains which it made during Friday’s trading session. The thing is that the advances are not convincing enough, which is why you will need to continue being very cautious while trading the yellow metal. If the U.S. dollar continue going lower in the hour ahead, then this will end up giving the metal a really big boost. Look to open Call options this Monday morning.
The GBP/USD is one of the most interesting pairs to trade at the moment. Investors have decided to go long on it this morning due to the strength of the British economy. It is also expected that U.S. rates will be kept low for a prolonged period, which has hurt the greenback today. That is why more gains for the GBP/USD are likely.