The greenback is mixed to higher this morning prior to the Fed announcing a policy decision in the hours ahead. This is amid signs that improving U.S. economic growth will lead policymakers to announce a rise in interest rates sooner rather than later. It is still being said by many that the Fed ignores the increasing inflation pressure. There is a majority who believe that U.S. rates will be raised in June next year. This is as U.S. consumer prices climbed 2.1 percent in the 12 months through May.
It is good to see that the European single currency as made inroads into its peers in the latest round of trading. Investors seem to be in the mood to take some big risks when it comes to the EUR. It has been able to make inroads into the dollar and a number of other leading currencies. This comes after the EUR has underperformed previously. There will be a lot of important economic data will be released from the news wires in the hours ahead, so get ready to open your Call options in the EUR/USD currency pair.
We have seen a big rally for the cable in recent trading session. The pound has been able to uphold its gains to a certain extent this morning. The most impressive advances have been capped versus the greenback. The Bank of England is set to published minutes from its June 5 meeting, which may signal that interest rates will be raised very soon. With the British economy going from strength to strength, this strengthens the argument for raising rates in the near future. Look to go long on the GBP/USD forex pair today to make maximum returns in midweek trading.
The majority of stocks outside of Japan fell this Wednesday morning, as energy shares led the losses. This all came ahead of the conclusion of the Fed policy meeting today.
The MSCI Asia Pacific Index tumbled 0.2 percent to 143.71. China’s Shanghai Index fell 0.5 percent. South Korea’s Kospi Index slumped 0.6 percent. Singapore’s Straits Times Index added 0.1 percent.
It seems that traders are very cautious at the moment while trading the financial markets. They seem to be concerned about investing too much money in volatile assets. This is why you may want to stay on the sidelines until the data from the news wires is much clearer.
The crude oil binary option is trading higher this morning by 34 cents. Traders are of the view that it is worth it for them to go long on the commodity after it was showing a lack of strength a few hours ago. With a civil war basically taking place in Iraq, it seems like a good idea to buy into the commodity. Therefore, get in on the action to make maximum returns.
Gold has gone lower and lower since the beginning of today’s trading session. Investors simply feel that they should ditch the yellow metal as there are a number of other assets to put their money in. This has simply been the mentality of traders since the beginning of today’s trading session.
One of the biggest underperformers previously was the EUR/USD forex binary option. Investors were in the mood to sell the EUR/USD as it was simply not offering traders the returns which they deserve. The good news is that there is bullishness in the pair this morning. Going long may turn out to bring higher tins during today’s trading session.