Euro Surging Ahead Today
Trade of the Day
Dow Jones hurt
The Dow Jones was one of the hardest hit indexes during yesterday’s trading session. The delay is that traders simply did not have the required confidence when it came to the Dow. This was largely due to the inability of the U.S. to publish the required positive economic data. It is likely that the case will be different today. This is largely due to the stock market rally which we saw in Asia. Therefore, traders may want to look into buying into the Dow Jones later on.
Greenback mostly lower
There is a lot of weakness when speaking of the U.S. dollar in the latest round of trading. Investors have decided to ditch the greenback today, as it is not providing traders with high enough returns. There has been a return of risk appetite when speaking of the forex market today. This is despite the U.S. not publishing good enough data. The rally in Asian stocks during early morning trading lent the counter currencies a helping hand. Therefore, it may be that the U.S. dollar will continue its dive as the trading day passes by.
Euro flexing its muscles
The euro is very strong this morning, as traders are in favor of putting their money into the European single currency. Its most impressive gains have been made against the dollar and the yen. This is because traders foresee that the EUR will continue to build on its current gains in the next few hours of trading today. In order for this to happen, there will need to be much positive economic data from the U.S. and other leading economies
Pound gains versus dollar
The British pound has been able to make impressive gains versus the dollar. The thing is that the pound has actually fallen versus the euro, as traders prefer the EUR over the GBP. It is heard to see which direction the pound will go in the next few hours of trading. However, what can be seen is that it is likely to make further inroads into the dollar in the coming hours.
JPY going higher
The yen has managed to surge in the past few hours of trading. Investors are of the view that the time is ripe for them to go long on the Japanese currency. There was a surge in Asians stocks, but this was not the case for Japanese stocks and indices. With the Japanese economy slowing down, trades feel that the haven yen is where to put their money
Equities dived on Wednesday
There was a lot of bearishness when speaking of U.S. stocks yesterday. Traders ditched the most popular stocks, as there was very little data from the American economy. There was also a lot of weakness for the top indexes on Wall Street. Therefore, both stocks and indexes seemed to behave the same. There will be a lot driving the markets in the hours ahead, so be prepared for all possibilities.
Gold going higher
The gold binary option was trading higher by neatly $8 a few hours ago, but the metal is up right now by about $5. There is a lot of bullishness when speaking of the leading metals. This has been the case since the beginning of today’s trading session. Investors did not have the required confidence previously. The good news is that they are very confident in gold today. This is why there could be additional gains for the yellow metal in the hours ahead, so be very prepared for this possibility.