There was a lot of weakness when speaking of the U.S. dollar in recent trading sessions. The dollar has risen versus a few peers, but it is still much weaker against most of them. For example, the dollar has made very big losses versus the yen this morning, sliding to its lowest level in three years. The USD/CHF currency pair is higher this morning by 0.15 percent at the 89.36 centimes level. The AUD/USD forex pair has slumped a whopping 0.61 percent to 92.73 U.S. cents.
The euro did end up making some big gains yesterday. The thing is that the euro was very much overvalued. It was able to gain as there was much risk appetite among investors in the forex market. The thing is that investors have taken it upon themselves to unwind their long positions in the EUR. The euro has tumbled versus the greenback and the sterling. Investors are of the view that the EUR will continue to slide into the abyss later on, so look to open Puts in the EUR/USD pair.
The dollar was able to rise to its highest level in three months versus the yen on increased risk aversion. There is concern about the pace of global economic growth. Countries such as Japan and England are showing fast economic growth, but other counties are showing much slower growth. The yen has been able to gain versus the majority of its 16 major currency counterparts. More gains may be on the cards this afternoon.
U.S. stocks managed to gain for the second straight trading session. Investors felt that it was worth it for them to take risks when it came to American stocks. This was on the improved U.S. economy and traders were willing to take many big risks. The thing is that investors took it upon themselves to go long as they still see many leading Arian equities as undervalued.
The Dow Jones Industrial Average made gains of 0.12 percent to 16,511.86. The S&P 500 made gains of 0.38 percent to 1,885.08.
Bank of America Corp. climbed 1.1 percent to $14.67. Facebook Inc. advanced 2.05 percent to $59.21. Intel Corp. jumped 0.85 percent to $26.04.
Investors fear that there could be losses once the U.S. session gets going later.
We are seeing a lot of strength when it comes to the crude oil binary option this morning. Investors are really in the mood to take big risks. The thing is that as the greenback goes lower, this has turned out to lend the energy a helping hand. In addition, there was an important rally on Wall Street yesterday. This has really given the black hold a boost it deserves. Going long today is the way to go for oil.
The gold binary option has been one of the strongest commodities in recent trading sessions. The thing is that investors have felt that it is better for them to go short in the latest round of trading. Gold has made losses of $2.50 this morning, as traders have decided to sell their long positions in the metal. Opening Put options may yield high returns when trading gin gold today.
Crude oil is one of the biggest gainers during Thursday morning’s trading session. Investors seem to be in the mood to go long on the commodity, as it is offering them high returns. In addition, if the U.S. dollar continues its side into the abyss, then we may see even more weakness when it comes to the commodity.