The greenback is one of the most volatile currencies this morning. What we saw was it going very bullish at the end of the previous trading week. With the U.S. set to raise rates, and the Eurozone set to slash rates, the weakness for the EUR/USD forex binary option as of late is not a surprise. The dollar is actually trading lower against the majority of its peers in the latest round of trading. Investors are in the mood to ditch the American currency due to there being a return of risk appetite in the currency market.
The euro seems to be trading lower on all fronts this morning. It is basically extending the losses which it capped during the latter part of last week’s trading session. Investors simply do not feel that it is worth it for them to go long on the euro these days. This is because there is so much weakness with regards to the Eurozone economy. To compound this, traders are of the view that the EUR is overvalued, meaning there may end up being additional weakness when it comes to the European single currency in the hours ahead.
The Japanese yen is trading at a four-month high versus the euro on the Iraq crisis. The appeal of the haven yen has increased, while the appeal of the risky euro has decreased. This is on the forecast that there will be a disruption of supplies, as the Iraq crisis intensifies. The yen is trading higher versus 15 out of 16 of its most traded peers in the latest round of trading. Traders forecast the yen to build on its current gains as today’s trading day gets going.
It was good to see that there was a rally in U.S. stocks during Friday’s trading session. Investors were in favor of going long due to the very high returns which were on offer for them. Traders were in the mood to go long after there was the release of positive economic data and the earnings of the leading companies came out better than was forecasted.
The Dow Jones Industrial Average gained 0.25 percent to the 16,775.74 level. The S&P 500 Index advanced 0.31 percent to 1,936.16.
Intel Corp. added 6.83 percent to the $29.87 level. Bank of America Corp. made gains of 0.13 percent to $15.44.
Commodities seem to be trading higher on all fronts in the latest round of trading. Investors are in the mood to go long due to the very high returns which can be made each trading day. Crude seems to be supported by the much weaker dollar and the chaos in Iraq. It is forecasted that crude will go even higher in the coming hours of trading.
The gold binary option is trading at its highest level in three weeks. Traders are in the mood to go long on the yellow metal due to the very high returns it has on offer for them each trading day. Investors may continue to buy into the commodity in order to make maximum returns from the commodities market in the next few hours.
It was good to see that the Dow Jones was able to gain during Friday’s trading session. There was a lot of confidence in the leading stocks and indexes on Wall Street. There will need to be more positive economic data in the hours ahead. This will at least end up help in the Dow Jones going much higher.