The dollar has been one of the hardest hit currencies in recent trading sessions. Investors have decided that it is the right thing for them to do by going short on the American currency. The dollar has dipped notably versus its main peers amid the turmoil in Ukraine. It is true that the greenback hit a six-week high versus its peers at one point time last week on the jobless rate in the U.S. plunging. However, with the share of the working age population in the work force declining, this ended up hurting the greenback.
The European single currency was one of the best performers during the week that just passed by. Traders felt that it was worth it for them to go long on the EUR due to it offering investors some very high returns. They just felt that they should go long n the currency as it is being backed by big banks and more investment in the region in the past few weeks. It may be that the euro will build on its gains in the week ahead.
The pound climbed to its highest level in 4 years versus the greenback due to the rampant economic growth of the U.K. economy. British assets have become much more attractive as the nation’s growth picks up. In fact, the GBP/USD forex binary option climbed for the fourth straight trading week. The British currency also made inroads into the euro following the release of positive manufacturing data from the British economy. More gains are set this coming week for the sterling.
There was a lot of volatility when it came to America stocks during the week that just passed. Investors were not too sure which assets they should put their money into. It is true that most economic data from the U.S. has turned out to be less positive. With a lower share of the American workforce actually working, this really hit U.S. equities very hard during the end of the previous trading week.
Among the biggest losers ended up being health care and tech stocks. Traders are hoping for a bullish comeback as the trading week unfolds.
The crude oil binary option managed to make some important gains during Friday’s trading session. This was after going through a lot of turmoil during the early part of the trading week. The fact is that the commodity slumped for much of the week, so the gains which we saw at the end of the week were a consolation. The Ukraine crisis may end up boosting the commodity this coming week, so get ready to go bullish.
The gold binary option was weaker for much of the previous trading week. The thing is that it was able to surge during the end of last week’s session. This was because of the escalation of the Ukraine crisis. There has been a lot of weakness for gold in the former part of last week’s session due to traders preferring put their money into alternative assets. Investors feel that the commodity could build on its current gains.
One of the biggest movers when speaking of the financial markets at the moment is crude oil. Well as you may know, crude oil went weaker for much of last week, but made some important gains before the week’s close. If the Ukraine crisis worsens and the greenback tumbled, then this could lend the commodity a helping hand.