Trade of the Day

Gold

Gold to build on its gains

There has been a lot of strength for the gold binary option in the past few trading days. In addition, the commodity is trading higher this morning, as investors feel like going long on commodities at the moment. The gold binary option is partially being boosted by the much weaker dollar. Traders will want to look into opening daily Call options in gold, futures this morning.

 

Currencies

USD

Dollar very weak today

The dollar is sliding on all fronts this morning. Traders are of the view that they should ditch the dollar as there has been a return of risk appetite this morning. Traders have been in the mood to take risks as there has been much positive data published from the leading economies lately. The dollar is lower versus the loonie and the Aussie at the moment. Traders may continue selling the dollar in the next few hours of trading.

EUR

Euro surging on all fronts this morning

The European single currency is one of the strongest currencies this morning. Among the most impressive gains this morning has been for the euro. The traders have decided to go long on the EUR due to the positive data which has come out of large nations such as Germany. Moreover, Japan and U.S. have been posting much positive data recently. This has led to traders taking a lot of risks. Therefore, it is no wonder that traders are willing to take risks when it comes to the European single currency today.

GBP

Pound mostly higher

It is forecasted that the British economy will overtake Germany within 15 years due to the growing population and fast growing economy. This is one of the reasons why the pound sterling is so strong today. Its most impressive gains have been made versus the greenback. On the other hand, it has made some losses versus the euro. The thing is that the EUR has been very strong. Call options for the GBP/USD is the way to go.

JPY

Yen going weaker today

The Japanese yen was much stronger in early morning trading. Investors felt that it was good for them to go long on the yen in early morning trading. However, it has started to slide versus the dollar since a few hours ago. The yen is set to slide versus the euro and the dollar. Traders will want to look into opening Put options in the yen once you get a free chance.

 

Stocks/Indices

Traders set to go long later

U.S. stocks are very much on focus at the moment. Moreover, there have been impressive gains made by Asian stocks and indexes. Traders just feel that now is the time to take some big risks when it comes to the financial markets.

U.S. stocks have gains across the brads in the past few trading days. Traders simply feel that it is worth it for them to take some big risks.

There have been some big gains for stocks such as Twitter, and these gains are set to be extended later on today.

 

Commodities

Gold

Traders expect more gains this afternoon

The gold binary option did start the trading session stronger. Investors just feel that the commodity has been very much undervalued previously, which is why they are going long on the metal today. The gains come as the dollar dives into the abyss. Therefore, you may want to look into opening Call options in gold futures.