Yen and Aussie Bullishness Dominates the Forex Market Today- 08/07/2014

Currencies

EUR

The EUR/USD pair is trading lower by 0.07 percent at the $1.3594. Traders have decided that is time for traders to go short on the EUR in the latest round of trading. The weakness for the European single currency has slumped after there was strong economic data published from Germany. With the ECB deciding to go ahead with more aggressive stimulus measures lately, this has ended up putting a lot of downward pressure on the euro. This is the aim of the central bankers, so begin going short on the euro once you get a chance.

JPY

The yen has managed to uphold its strength today after there was a stock market drop in Asia. The yen seems to be surging ahead after the advances that it managed to gain during yesterday’s trading session. The advances for the JPY come after news shows that there was a better-than-forecast current account surplus. The yen made important inroads into the greenback after U.S. stocks slumped from a record high.

AUD

The Aussie is trading very high in the latest round of trading. This came after there was a report showing that a gauge of private business confidence which came out much better than was forecasted. It came out at the highest level since January, which ended up rally lending the nation’s currency a helping hand. Investors may want to start looking into opening daily Call options in the Aussie if they want to make high returns from the currency market.

 

 

Stocks/Indices

There was a second straight days of losses when it came to U.S. equities a few. Investors just did not feel that they should take big risks when it came to the financial markets. They are of the view that stocks in the region are overbought, which gave them the prefect opportunity to go short and take out their profits.

The Dow Jones Industrial Average made losses of 0.26 percent at the 17,024.21 level. The S&P 500 Index fell 0.39 percent at 1,977.65.

Bank of America Corp. declined 0.56 percent to $15.94. Apple Inc. jumped 2.06 percent to $95.97.

Traders may want to go long today, as sock may end up making a bullish comeback.

 

Commodities

Crude Oil

We are seeing the commodity trade low this morning by about two cents, as traders have a lack of confidence following the losses which we saw when speaking of U.S. equities during yesterday’s trading session. The commodity is trading near its highest level in a month prior to supply data being released from the news wires. In order to make very big gains, it may turn out to actually go long once they get a free chance.

Gold

The good news is that the gold binary option has been able to go higher in the latest round of trading. It has gained by about $3 after there was a lack of strength with regards to the metal in previous trading sessions. In addition, with her being a lot of risks in the financial market, this has resulted in there has been a lot of confidence in haven assets. As a result, going long on the commodity today may be the way to go.

 

Wild Card

Dow Jones

It was the case that the Dow Jones made some big losses during yesterday’s trading session. With equities and indices recently hitting all-time highs, traders now feel that they should unwind their long positions. Going long in the hours ahead may turn out to bring very high returns for traders.