Pound Dives in Spite of Strong Manufacturing Figures
There have been very big gains for the U.S. dollar in the latest round of trading. There is high demand for haven currencies amid Russia invading the Crimea. The EUR/USD currency pair is lower as of now by 0.17 percent at $1.3778. The AUD/USD forex binary option has tumbled by 0.08 percent to 89.21 U.S cents. The dollar has also made inroads into a number of its other peers in the latest round of trading. The gains are likely to be extended, so look to go long on the greenback this morning.
When talking of weak currencies today, the euro seems to come to mind. Traders are in the mood to go short on the euro at the moment, as there seems to be many other currencies which traders can put their money into. This is why you need to follow all of the global data as it is published from the news wires in the hours ahead.
The GBP/USD pair is lower at the moment by 0.09 percent at the $1.6730 level. Traders are in the mood of selling the pair as it is simply not offering them high enough returns at the moment. The weakness for the British currency comes today, even though there was positive manufacturing data which was published from the British economy earlier on. You will want to go short on the GBP/USD pair in the hours ahead.
U.S. stocks were able to finish last week’s trading session on a high. This is after there was a lot of turbulence, especially amid the Russian invasion of the Crimea. Each week, we are seeing a lot of unpredictable economic and political events occurring. However, this did not lead traders to go short on American assets. The exact opposite was true, because it may be the case that investors see U.S. assets as a haven.
The Dow Jones Industrial Average climbed on Friday by 0.3 percent to 16,321.71. The Nasdaq Composite Index dipped 0.25 percent to 4,308.12.
Bank of American Corp. added 0.24 percent to $16.53. Facebook Inc. tumbled 0.7 percent to $68.46.
Crude oil futures are trading higher this morning by $1.45 at $104.04. The commodity is trading at its highest level in six months, as the crisis in the Ukraine worsens. There seems to be many more risks in the financial markets at the moment, which has driven demand up for commodities such as crude oil. The stronger dollar today seems to be having no impact on the energy. Opening weekly Call options when you get a chance is the way to go if you want to earn high returns.
The gold binary option advanced to its highest price level in four months after Russia seized the Crimea. The increasing tension in Ukraine is boosting the demand for the commodity. Gold is higher this morning by a massive $23.50 at the $1,345.10 price level. It seems that the only direction which the metal is going today is higher due to there simply being so much demand for metals. Taking this into account, start opening your Call options in gold.
The Dow Jones binary option was one of the best performers during the previous trading week. This is why many analysts foresee the top U.S. index to build on its gains in the hours ahead. However, you will need to make sure you follow the markets very closely if you intend on making some high returns as the trading day passes by.