The dollar was one of the most bullish currencies during yesterday’s trading session. Investors felt that it was a good idea for them to go long on the greenback after job hiring surged in the U.S. in June. The dollar climbed from a near its lowest level in two months. There is also came before the forecast that there was positive U.S. data from the U.S. this afternoon. The dollar seems to be trading higher in the latest round of trading. Investors are of the view that going long on the USD/CHF pair is where the action is at this morning.
We are seeing a lot of weakness when it comes to the Australian dollar in the latest round of trading. Investors simply feel that it is not the right time to go long on the Aussie this Wednesday morning. This is as there is simply a lack of returns. This has come after the surged in U.S. stocks during yesterday’s trading session. Further weakness for the AUD/USD forex pair may be on the cards in the latter hours of trading today.
One of the most volatile currencies today is the European single currency. It ended up making some very big losses in previous trading sessions. The euro fell to near its lowest level in two months recently due to French officials stating that the ECB needs to act further to weaken the euro prior to the meeting of policymakers in Frankfurt today. Traders may want to continue selling the euro this morning.
It was good to see that U.S. stocks closed at their highest ever level. Traders seemed to be in the mood to take some big risk when it came to the top equities on Wall Street yesterday. There seems to be a lot of confidence in the financial markets this morning.
The Dow Jones Industrial Average jumped 0.12 percent to the 16,976.24 level. The S&P 50 made gains of 0.07 percent to 1,974.62.
Bank of America Corp. added 1.6 percent to $15.85. There were also decent gains for a number of other stocks during Wednesday’s trading session.
The crude oil binary option is trading lower this morning by about 42 cents, as traders decided to take their money out of commodities. This comes after there was an important rally on Wall Street on Wednesday. The fact is that traders feel that the commodity is still overvalued, which is why you will want to be cautious if you a thinking about trading crude oil at the moment. The commodity is trading lower for the sixth straight trading day. This is the longest losing streak since May 2012. It is expected that crude supplies will increase after Libyan rebels agreed to hand over two oil terminals.
The gold binary option has tumbled by about $9.30 in the most recent trading. There seems to be a lack of risk appetite when speaking of metals as of now. This is as traders prefer to put their money into risky assets such as equities. This trend is set to continue for at least another trading day, so look to go short on the gold binary option today.
We have seen steady weakness when talking about gold, as traders feel that the commodity is overbought. In addition, the greenback flexing its muscles at the moment, the best decision any traders can take today is open daily Put options in the gold binary option.