Pound Edging Higher this Morning

Pound Edging Higher this Morning

Currencies

NZD

There has been a lack of demand for the New Zealand dollar since the beginning of today’s trading session. Investors have been of the view that it is better for them to go short on the kiwi, as it is seen as very much overvalued at the moment. The weakness comes on figures from the country being published that showed investor confidence dived in the month of August. There was also a range of other negative economic figures which resulted in investors going short on the New Zealand currency. The New Zealand dollar has lost a remarkable 1.6 percent versus the U.S. dollar during the current month. Traders think that the NZD/USD forex pair may continue losing ground in the hours ahead.

GBP

The GBP/USD forex binary option is trading higher by 0.07 percent at the $1.6599. Traders are of the view that it is worth going long on the sterling this morning. Therefore, you should look into what is in it for you while trading the British currency today. The thing is that the pound was very much oversold in previous trading sessions. The pound sterling is forecast to build on its current gains as the trading day passes by.

JPY

The good news is that the yen is headed for weekly gains as Ukraine tendons spur safe-haven demand. The reality is that even the yen is headed for its first week of gains in three weeks. This comes on a report that inflation was nearly unchanged after sliding in previous months. The yen may continue to go higher if the tensions between Russia and Ukraine continue to worsen. The thing is that the eyen has actually dived versus the dollar today. The USD/JPY pair is higher as of now by 0.08 percent at 103.82 yen.

Stocks/Indices

There was a lot of strength for U.S. stocks in the early part of the trading week. The thing is that they lost ground during Thursday’s trading session, as investors realized that they were overbought.

The S&P 500 Index dipped below the 2,000 level. This came on violence in Ukraine and on weak retail sales data overshadowing other data indicating a rapidly expanding U.S. economy.

The S&P 500 dipped 0.2 percent to the 1,996.74 level. The Dow Jones Industrial Average slumped 0.3 percent to 17,079.57.

The good news is that the American economy expanded more than was forecasted in the second quarter.

Apple Inc. added 0.12 percent to $102.25. Bank of America Corp. slumped 1.17 percent to $16.01. There were also losses for a number of other top stocks.

Commodities

Crude Oil

The crude oil binary option is trading higher this morning, and it is great to see that investors have so much confidence in the black gold this morning following the weakness which we saw during yesterday’s trading session. Therefore, investors should look into buying into the crude oil binary option if they want to make maximum returns from the financial markets during Friday’s trading session.

Gold

The gold binary option is trading lower this morning by $1.70, as investors are of the view that it is better for them to take their money out of the black gold. The thing is that investors prefer energies over metals at the moment. Despite the weakness, gold is still trading near its highest level in a week, meaning a bullish upsurge may lie ahead.

Wild Card

Crude Oil

For those of you who have been following the financial markets closely may want to look into going long on the crude oil binary option today.