Stocks in U.S. advance on Positive Earnings Data
We are seeing a lot of weakness for the U.S. dollar this morning. This is in contrast to the strength which the American currency was showing in previous trading sessions. This shows just how quickly the situation in the currency market can change from day to day. Among the biggest losses for the greenback this morning have been capped versus the pound and the euro.
It is great to see that there is so much strength for the euro at the moment. Traders are of the view that it is worth it for them to take big risks when it comes to the European single currency at the moment. This has been the mentality of traders since the beginning of today’s trading session. The just feel that now is the right time for them to take some big risks with the EUR.
Up until today, the yen was one of the weakest currencies. Traders were simply not in the mood to take risks when speaking of the Japanese yen. However, the situation has changed a lot in the past 12 hours. There was a big decline in Asian and other Asian stocks. This has turned out to increase the demand for the JPY. The yen has made inroads into the Aussie and the dollar. Look to go short on the USD/JPY pair as the trading day extends.
U.S. stocks were able to cap some very impressive gains during yesterday’s trading session. Investors were in the mood to take big risks, as there are so many opportunities in the markets at the moment. Traders are of the view that they should buy into equities as that were oversold in the previous week of trading. The fact is that the earnings of some of tee lading American companies came out better than was forecasted. Therefore, it is no surprise that traders have decided to take so many risks this morning.
There is likely to be more gains for U.S. stocks in the hours ahead.
The crude oil binary option is trading at its highest level in three weeks before there is the release of supply data. Traders are of the view that it is worth it to take risks with the black gold as it is offering them such high returns as of now. This is why you may want to get in on the bandwagon to make high returns form the commodities market during Friday’s trading session. Crude oil futures are trading higher by 14 cents at the $96.87 level. More gains are likely in the coming hours of trading.
Gold futures are trading higher this morning by more than $6. This is after the commodity was trading sideways for much of this week’s trading session. This is evidence of just how quickly the situation in the commodities market is changing each trading day. The fact of the matter is that there is a lot of confidence in the commodities market this morning. This has turned out to lend gold and other widely traded precious metals a helping hand.
We have not seen gold do well in previous trading session, as traders decided to put their money into alternative assets. The good news is that the commodity has managed to make a bullish comeback in the latest round of trading. It may be the case that gold will build on its current gains, so look to go long as the trading day passes by.