U.S. Trading Resumes with an Important Rally
The dollar is not as strong as it was yesterday morning. However, it is still trading higher versus the majority of its peers in the latest round of trading. This is as investors feel like they should take some risks. The dollar has made inroads into the euro and the pound. On the other hand, it is trading much lower versus the Aussie and the loonie this Wednesday morning.
The pound is much weaker versus the dollar this morning. The good news is that the British currency has been able to make inroads into the euro in the latest round of trading. The fact is that the EUR/GBP cross has dived notably in recent trading sessions, as there is a good amount of confidence in the currency market today, so look to go long on the British pound.
When speaking of weak currencies today, the yen seems to come to mind. It has fallen after the Bank of Japan pledged to maintain record stimulus measures. Investors felt that it is worth it for them to buy into Japanese stocks and ditch the Japanese yen. This has been the mentality of traders since the commencement of today’s trading session. Amongst the biggest losses for the JPY have been made versus the GBP and USD. Look to ditch the yen if you are up for making high returns from the forex market in the coming hours.
There were a lot of gains when it came to U.S. stocks during yesterday’s trading session. This was after the holidays and the weakness which we saw on Friday. This shows just how quickly the situation in the financial markets changed, and is a great relief to traders.
The Nasdaq Composite Index advanced 0.67 percent to 4,225.76. The S&P 50 made gains of 0.28 percent to the rate of 1,843.80.
Alcoa jumped 6.78 percent to $12.13. Facebook jumped 3.93 percent to $58.51.
There will be a lot of economic data released from the news wires in the hours ahead, so get ready.
There is a lot of strength for the crude oil binary option this morning on the forecast that distillate crude stockpiles dived. The commodity is trading higher as of now by 47 cents at the $95.44 level. Traders just feel that now is the time for them to go long on the black gold, as there was a rally for U.S. stocks yesterday and Asian stocks this morning. The commodity also made some very impressive gains yesterday. Many investors see further gains for the commodity in the near future, so try and go long and get on the bandwagon.
The gold binary option is trading lower this morning by a few dollars. It has been sliding in the past several trading days after making some important gains in the previous week of trading. It is now expected that America will go ahead with more tapering in the future, which is why traders have taken it upon themselves to ditch the yellow metal. It may turn out that gold will continue sliding in the next few hours of trading, so start going short.
It was great to see that the S&P 500 was able to make impressive gains yesterday afternoon. The fact is that this adding index is somewhat oversold at the moment. This is why traders felt that it was worth it for them to open Call options in the index yesterday. Look for it to make additional gains during the U.S. session.