U.S. Stocks Surge in First Day of Current Trading Day
The U.S. dollar is trading in a mixed fashion before the release of U.S. manufacturing data. The fact of the matter is that there is a lot of confidence when it comes to the currency market. The gains in American equities yesterday have led to advances this morning in many assets. On one hand, the dollar has made inroads into the pound. On the other hand, the dollar has slumped versus the Aussie.
The European single currency is one of the strongest currencies this morning. Traders have taken it upon themselves to go long on the currency after it underperformed in previous trading sessions. This shows just how quickly the situation in the forex market can change each trading day, which means that you should make sure to follow all of today’s data very closely. The euro is higher versus the pound and a number of its other peers, as traders realized just how undervalued the currency has been previously.
The GBP/USD forex binary option is trading lower this morning by 0.09 percent at the $1.6648 level. Traders are of the view that it is worth it for them to go short on the currency as it is simply not offering them high enough returns. This is despite the very strong British economy. Traders should look into going short on the GBP/USD forex binary option as the trading day passes by.
There was another day of gains when it came to U.S. stocks yesterday. There has simply been a return of confidence into the U.S. equities market since the middle of the previous week of trading. Investors are of the view that there are very big gains for them to make, so the time for them is now to take advantage.
The Dow Jones Industrial Average made gains of 0.82 percent to the 16,457.66 level. The Nasdaq jumped 1.04 percent to 4,198.99. There were also impressive gains for a number of stocks and indices in America during yesterday’s trading session, as investors just have so much confidence at the moment.
Bank of America Corp. made gains of 1.3 percent to the $17.20 level. Microsoft Corp. jumped 1.72 percent to $40.99.
Traders may continue to buy into U.S. stocks and indices once the U.S. markets opening in the hours ahead, so make sure to be very alert.
The crude oil binary option tumbled for a second straight trading day on the concern over the state of the Chinese economy. Investors simply feel that it is not the time for them to go long on the commodity. This is after it was able to cap some very important gains during the previous trading week. The fact of the matter is that the markets are moving differently now after we saw a rally in American stocks on Monday.
The gold binary option is trading near its lowest level in seven weeks, as traders decided to put their money into other assets. This comes on the positive outlook of the American by the Federal Reserve. Investors see that gold will continue to slide in the near future, so the gains which we are seeing during Tuesday morning trading are no surprise. Opening Put options today is the way to go.
For those of you who have been following the commodities market very closely will have seen just how much lower the black gold has gone. Therefore, look into going short on the commodity once you get a chance this Tuesday afternoon.