Gold Surges from Three-Week Low- 17/07/2014

Currencies

USD

There is a lot of volatility for the greenback this morning. The dollar is trading lower on all fronts this Thursday morning. This is after there was a big surge in American stocks. Stocks in America were able to jump after there was a lot of weakness in previous trading sessions. The AUD/USD forex binary option is trading higher this morning by 0.03 percent at the 93.70 U.S. cents level. The dollar has also lost a lot of ground versus the Swiss franc and the loonie. Traders may want to continue selling off the USD in the coming hours of trading.

GBP

The pound has been able to climb to its highest level in 22 months versus the euro. This comes on the fall in the jobless rate in the U.K. In fact, the nation’s unemployment rate is the lowest level since 2008. This is a big sign that the economy will be able to withstand a rise in interest rates. In addition, the pound has made important inroads into the greenback. The GBP/USD pair is 0.3 percent ay from a six-year high. Investors are of the view that the GBP/USD pair will continue building on its gains.

CAD

The CAD has lost a lot of ground versus the USD in recent trading sessions. The good news is that the loonie has made a mini comeback this morning. Investors understand that the Canadian currency is oversold as off now, which has given them the request confidence to go much higher on the commodity in the latest round of trading. The CAD may continue to climb versus the USD in the hours ahead.

 

Stocks/Indices

It was good to see that U.S. equities were able to climb during yesterday’s trading session. This was after they were hit hard during the early part of the trading week. You will have to be very cautious if you want to minimize your losses from the global stock markets at the moment.

The Dow Jones Industrial Average made important gains on Thursday of 0.45 percent at the 17,138.20 level. The S&P 500 added 0.42 percent to 1,981.57.

Intel Corp. climbed a whopping 9.27 percent to the $34.65 level. Bank of America Corp. dived 1.90 percent to $15.51. Time Warner and Microsoft were among the biggest gainers yesterday.

Investors are hoping for there to e anther rally once U.S. trading kicks off.

 

Commodities

Crude Oil

The crude oil binary option is trading higher this morning by about 10 cents. There are two factors which seem to be boosting the commodity at the moment. The first is the much stronger dollar this morning. The second factor is the important stock market rally which we saw on Wall Street on Wednesday. Traders are of the view that the commodity will be able to build on its current gains in the latter hours of trading.

Gold

We are seeing the gold binary option go higher this morning by $5.90. Investors feel that it is a good idea for them to go long after there were very big losses for the yellow metal just yesterday. It is vital to take into account that gold’s gains were greater an hour ago, proving just how volatile the commodity really is at the moment. Still, Call options may be the way to go with regards to gold today.

 

Wild Card

Crude Oil

It is great to see that there is has been a bullish comeback for crude oil in the past two trading sessions. Investors feel that the commodity was oversold up until end of day Tuesday, so start going long now.