Dollar Trading Lower on All Fronts!
USD much lower
There is a lot of weakness when it comes to the dollar today. Traders feel that it is time to sell the U.S. currency, as there is so much positive sentiment in the forex market. The AUD/USD forex pair is trading higher today by 0.28% at 97.63 cents. The dollar has also made big losses versus the loonie and the Swiss franc in the latest round of trading.
EUR trading higher on all fronts today
The EUR/USD forex pair is trading higher today by 0.14% at $1.2852. Traders have decided to buy into the euro today after it made some big losses during the previous trading weeks. The euro is in high demand, as there is a European stock market rally. The euro has also made inroads into the cable this morning. Traders are hoping that the European single currency will continue building on its current gains in the coming hours of trading.
GBP very mixed today
There is a lot of mixed behavior when it comes to the pound today. The GBP/USD pair is higher by 0.13% at the rate of $1.5188. The gains we have seen for the pair is important showing that there is still a good degree of confidence in the British currency. However, it has not been as lucky versus the Aussie and the euro in the past few hours. This is largely due to demand being high for risky currencies. Expect more of the same as the trading day passes by.
JPY gaining ground
The Japanese yen has made a mini comeback this Monday morning after it made some very big declines during the previous week of trading. The gains this morning are owed to officials from the Bank of Japan stating that further stimulus in the near future is unlikely. This sent shockwaves through the forex market, but really lent the Japanese yen a helping hand. Look for more gains for the currency in the next few hours.
Big gains for stocks seen last week
U.S. equities capped some very important gains last week, as they were backed by diverse factors. They gained for most days, as data showed an expansion in the U.S. economy. This is a strong indication that the U.S. is leading the world into an economic recovery.
Traders will want to open Call options in the leading stocks and indices once the U.S. market opens later today. To do so may bring you some very high returns. Therefore, get in on the action this instant.
Gold futures dive into the abyss
There were some very big losses when it came to gold future in the previous trading week. Gold futures are lower today by more than $25, as traders just do not feel it is a good time to buy into the precious metal. The fact is that traders have ditched the majority of commodities in the latest trading. Instead, they have put their money into stocks. This is a trend we have seen for more than a week. You may want to open Put option to profit from the latest trends.
Trade of the Day
Dow going much higher
The Dow Jones has been very strong in the past week of trading, as traders have been given a confidence boost by the improving U.S. economy. What’s more, some of the leading companies in the United States aver lease profits figures that came out better than predicted. Therefore, you may want to start opening positions in the Dow today.