The U.S. dollar has been one of the most inconsistent currencies in recent trading sessions. Traders have felt that it is not the right time for them to go long on the American currency previously. The good news for the greenback is that it has managed to make inroads into its peers in the latest round of trading. The GBP/USD forex binary option is trading lower this morning by 0.06 percent at the $1.6817 level. The dollar has also made inroads into bitcoin this morning. Look for the greenback to extend its gains in the coming hours of trading.
We are seeing a lot of weakness when speaking of the European single currency this morning. This comes before the release of inflation data that will be published in the coming hours of trading. In addition, the euro made some very big losses on Tuesday. It is expected that inflation came out below the European Central Bank’s inflation goals. Investors will want to continue to ditch the EUR in order to make maximum returns.
There have been a lot of gains when it has come to the Japanese yen in the past day of trading. It has made impressive inroads into the yen. The Japanese currency has also made inroads into a number of its other peers. This comes as the Nikkei was able to make some gains recently. This is after many days of the leading Japanese stocks and indexes tumbling. Look for the yen to continue gaining in the later hours of trading.
It was great to see that U.S. stocks managed to make some very important gains in the latest round of trading. Investors felt that it was worth it for them to take risks with American stocks, as they have stagnated to some extent previously.
The reality is that financial traders have realized that the losses for American equities were overdone. Investors have bought into mainly banking and tech stocks. This is because of the very high returns which have been offered to them by investors.
The Dow Jones Industrial Average made gains of 0.53 percent t 0 $16,535.37. The S&P 500 made gains of 0.48 percent to 1,878.33.
The Bank of America Corp. made gains of 1.94 percent to $15.24. Facebook Inc. advanced 3.58 percent to $58.15.
Crude oil futures are trading lower this morning by $1.10 at the $100.34. Investors have taken it upon themselves to ditch the commodity in the most recent trading due to the lack of demand for the majority of commodities. The reality is that the black gold is overvalued this morning. The commodity is also lower as the dollar gains a lot of ground. Traders may continue selling the commodity in the hours ahead.
Gold is one of the weakest commodities this Wednesday morning. The commodity is trading lower by over $5.30 this Wednesday morning. Traders have decided that it is the time for them to sell the commodity on the much stronger dollar. In addition, traders still foresee that the metal will make big losses in the weeks ahead. Therefore, you may want to go short on the commodity once to get a free chance.
There has been a lot of movement when it has come to the Dow Jones in the past few trading weeks. The gains for the Dow yesterday were much more decisive than we have seen previously. Investors now felt that they should take it upon themselves to go long.