There is a lot of weakness when speaking of the greenback in the latest round of trading. Investors are simply not in the mood to go long on the dollar at the moment, as there is a lot of risk taking in the forex market. In addition, with U.S. equities surging on Wednesday, this has resulted in investors taking it upon themselves to go short on the greenback. The GBP/USD forex pair is trading higher this morning by 0.07 percent at the $1.6994 level. Traders foresee the dollar to continue sliding this afternoon.
The euro is one of the strongest currencies this Thursday morning. With global stocks going higher, trades have taken the opportunity to buy into risky currencies. In addition, the the U.S. keeping rates low for a prolonged period, this has resulted in traders having more risk appetite in the financial markets. The euro seems to be trading higher on all fronts, which is why you may want to go long on the EUR once you get a free chance today.
There seems to be a lot of dead when it comes to the Aussie this morning. Traders have been in favor of going long on the AUD today after it did not perform so well in previous trading days. The AUD/USD forex pair is trading higher this morning by 0.4 percent. Investors are of the view that it is worth buying into the AUD/USD pair. Therefore, make sure to get in on the action this Thursday.
Investors decided that it was time for them to go long on stocks yesterday, even though there were two disappointing economic reports published from the news wires. This is after the very big losses which we saw in previous trading days.
The Dow Jones Industrial Average made gains of 0.29 percent at the 16,867.51 level. The S&P 500 jumped a whopping 0.49 percent to 1,959.53.
Intel Corp. added 1.25 percent to $30.88. Apple Inc. jumped 1.25 percent to the $90.36 level. There were also impressive gains for a number of other stocks during yesterday’s trading session.
There will be a lot of economic data published form the news wires this afternoon, so make sure you follow it closely if you want to make some profit this Thursday.
The crude oil binary option is trading higher this Thursday morning by 14 cents at the $106.64 level. The commodity has gained for a number of reasons today. One of them is that the dollar is much weaker, and with crude priced in dollars, the gains we are seeing as of now for the black gold are of no surprise. In addition, traders are in the mod to go long this morning. The gains are expected to be extended in the hours ahead
Gold is about level this morning; as traders do not seem to bin the mood to put their funds into haven assets. Instead, they have taken it upon themselves to put their money into riskier assets and commodities. Gold failed to capitalize on the much weaker dollar. The thing is that the demand for gold from countries such as China may continue to grow in the next two decades. However, look to stay away from the metal this afternoon.
Silver is a commodity that we have not talked about so much lately. Investors have felt that it is better to sell the commodity this morning, as the greenback surges ahead. Daily Put options in silver may be the way to go today.