We are seeing a lot of mixed behavior when speaking of the greenback in the latest round of trading. The dollar is trading higher versus the pound sterling and the same was the case with the euro up until an hour ago. The thing is that the dollar has since slumped versus the European single currency. The forex market is very unpredictable at the moment. Expect the greenback to slide into the abyss in the latter hours of trading today.
The GBP/USD forex binary option is trading lower this morning by 0.1 percent at the $1.6822 level. Traders have decided to go short on the currency has it is simply not offering them the returns that they deserve. In addition, it is important to take into account that the cable was able to make very important gains yesterday. Therefore, the weakness which we are seeing this morning is not a surprise. Look to selloff the GBP if you are looking to make the maximum profit out of the currency market.
We have seen the yen slide to its lowest level in a week versus the euro. This is as traders are just not in the mood to go long on the Japanese currency. This has been the mentality of traders since the commencement today’s trading session. The demand for haven assets such as the Japanese currency has declined due to the forecast that global policymakers will introduce further measures to boost economic growth.
There was no trading on Wall Street yesterday due to the observance of Memorial Day. The thing is when looking at the non-U.S. markets this morning; we are seeing a lot of bullish sentiment.
We are seeing global stocks and indices from Europe to Asia surge ahead this morning. Traders just have so much confidence when it comes to investing in the financial markets today. This is because shares are undervalued to a certain extent, which has ended up sparking a vital rally.
The bullishness is crucial, as this could very well lead to U.S. stocks being lent a helping hand. Therefore, make sure to follow financial data while trading U.S. equities this afternoon.
We are seeing the crude oil binary option go much were this morning by 36 U.S. cents. Traders just do not feel that they should put their money into the commodity in the latest round of trading. They feel that the black gold is overbought. The results have been for them to unwind their long positions. Traders have put their money into equities instead, so look to open puts when it comes to crude oil this afternoon.
The gold binary option is trading lower this morning by $8.30 at the $1,283.60 level. The commodity has made losses this morning as there is simply a lack of demand for precious metals and commodities. Traders have simply opted for very risky assets today such as Asian stocks. The simple fact is that here is little demand for haven assets. You will need to take this into account while trading the financial markets today. This will at least help you make maximum profits form the financial markets.
There was no trading on Wall Street yesterday due to the bank holidays. Traders were simply not in the mood to take risks in the financial markets. There is likely to be gains when speaking of the Dow Jones this afternoon. Therefore, look to go bullish in order to make maximum returns.