We have seen a lot of movement when it has come to the U.S. dollar in recent trading sessions. Traders have decided to go long on the greenback in certain respects. The dollar was able to make inroads into the euro and the pound. This was after it made some very big losses in the early part of the previous trading week. The thing is that the dollar ended up sliding versus the Aussie a touch at the end of last week’s trading session. Whatever people say, there is a good chance we will see more strength for the dollar this coming week.
The pound ended up losing versus the dollar on Friday, but it was bullish versus its peers for most of the previous trading week. The pound was able to gain for the fourth straight trading week versus the euro. This came about after data showed that British retail sales figures came out much better than was expected. In addition, the pound advanced for the first week in three versus the greenback. Expect more gains for the GBP in the coming trading week. Look to go long on the GBP/USD currency pair.
The loonie was weaker for much of last week’s trading session. The good news is that it was able to make a bullish comeback at the end of the previous trading week. The loonie was able to advance versus nearly all 16 of its major peers. This came as the inflation rate hit the desired target in Aril. This was the news which traders worth waiting for, and will be key in driving the CAD this coming trading week.
There was a lot of movement when it came to U.S. stocks last week. It was great to see that the S&P 500 was able to gain during last week’s trading session.
The S&P 500 Index jumped 1.2 percent to a record of 1,900.53. The Dow Jones Industrial Average made gains of 114.96 points, or 0.7 percent, to 16,606.27.
Among the reasons for the strength for most of last week’s session was U.S data being able to beat forecasts. In addition, Fed officials pointed out that economic stimulus may continue. Therefore, investors took this as a sign for further economic growth and bullishness for regional assets in the future.
The crude oil binary option ended up making its best gains in five weeks. Futures were able to advance for the third straight trading week in New York. Please take into account that there will be a suspension of floor trading in New York on the 26th due to Memorial Day.
What contributed to the bullish prices was the supply of crude oil sliding. In addition, the positive economic data also encouraged traders to buy into the commodity during last week’s session.
There was a lot of movement for gold during last week’s trading session. Traders were in the mood to buy into the metal for certain parts of the trading week. The thing is that the commodity took a hit on Friday. Traders decided that they should go bearish due to much positive data coming out of the U.S. and other leading economies.
The Dow Jones went bullish just like we said it would in last week’s prediction. It is likely that the lading U.S. index will be able to go higher for yet another trading week. As a result, you will need to pen weekly Call options once you get a chance in the days ahead.