U.S. Stocks Make a bullish Comeback on Tuesday
The USD/JPY pair is trading higher this morning by 0.38 percent at 105.00 yen. The pair is trading round its highest level in five years. With the U.S. set to cut stimulus, and Japan set to boost stimulus, the gains for the pair are no surprise. In addition, the U.S. economy is growing faster than the Japanese economy, so the gains for the pair will continue.
The European single currency is trading lower on all fronts this morning. The EUR/USD pair is trading lower as of now by 0.1 percent at $1.3601. The EUR/GBP cross has lost 0.22 percent to 82.84 pence. The fact is that Germany’s trade balance came out lower than was expected. As a result, the weakness which we are seeing for the euro this morning does not surprise traders. Therefore, you will want to be very cautious trading the EUR/JPY in the next few hours of trading
One of the weakest currencies this morning is the Canadian dollar. Traders just do not feel that it is worth it for them to take risks when it comes to the loonie. With the U.S. economy projected to grow faster than Canada, traders have taken the opportunity to buy into the greenback and ditch the loonie. This has been the mentality of investors as of late. This means that you will want to trade with the trend in order to make maximum returns from the financial markets during Wednesday morning’s trading.
It was great to see that U.S. stocks were able to surge ahead during Tuesday’s trading session. Investors were in favor of taking risks when it came to the leading U.S. stocks, especially healthcare ones. This is after equities dived in the previous three trading sessions. This shows just how quickly the situation in the markets can change.
The Dow Jones Industrial Average surged 0.64 percent to 16,530.95.The Nasdaq Composite Index climbed a whopping 0.96 percent to the 4,153.18 level yesterday afternoon.
The crude oil binary option is trading higher for the second straight trading day. It is higher at the moment by 28 cents at the $93.96 price level. Traders are of the view that it is worth it for them to buy into the black gold, as it is seen as slightly undervalued. Moreover, there was a rally on Wall Street yesterday, which encouraged traders to go long on the commodity. Expect more gains in the hours ahead; meaning open Calls once you get a free chance.
Gold took a big beating yesterday, and it looks like the commodity is trading much the same way in the latest round of trading. Investors feel that they should ditch the commodity before jobs figures are released from the leading economies. Gold is lower this morning by about $4, as traders have decided to put their funds into alternative assets. The commodity is also trading lower prior to the release of Fed minutes from the U.S. economy. Going short on the gold binary option seems like the way to go this Wednesday.
When looking at bullish commodities these days, crude oil seems to come to mind. The reality is that there are a number of factors driving up the black gold these days. This really has given traders the confidence to go long, helping boost crude prices notably. If you are up for making some very high returns from the financial markets, going long on crude oil futures may be the way to go in the hours ahead.