Gold Edging Higher
Trade of the Day
Pair to stay lower
There has been a lot of weakness when it has come to the EUR/USD pair since the beginning of this morning’s trading session. Investors just are in the mood to take risks when it comes to the EUR/USD forex pair in the latest round of trading. Traders feel that there may be additional losses for the pair, which is why you may want to go short today.
USD going much higher today
The U.S. dollar has been very strong since the commencement of this morning’s session. Investors are of the view that it is the right decision to go long on the greenback. The GBP/USD pair is trading lower at the moment, which has led traders to ditch the greenback. The dollar has also made inroads into the Australian dollar. Therefore, you may want to look into opening Put options in the AUD/USD air today.
Euro very weak today
The euro is one of the weakest currencies today. It has been going lower in the past week or so. The euro has made big losses versus the dollar and a number of its other main currency counterparts. The euro has been pushed were after the debt rating of the European Union was cut. This has led traders to look for different assets to put their money into. The fact is that the situation in the region has gotten worse. As a result, you may want to look into opening Puts in the EUR/USD pair.
Pound mixed today
The pound sterling has been losing round versus the U.S. dollar in the past few hours. The problem is that the pound is just not in such high demand at the moment. The good news for the sterling has made inroads into the European single currency. Traders feel that they should be very careful while trading the forex market today in order to maximize their returns. You may want to buy into the EUR/GBP cross this morning.
Yen going a lot lower
The Japanese yen is trading lower this morning as the Bank of Japan has been boosting more yen into the Japanese economy. It comes at the time America cuts economic stimulus. As a result, you may want to go short on the yen once you get a free chance. Take a note that the yen is the currency to sell today, because traders are not in the mood to take risks with the JPY.
Asian stocks go higher today
There is yet again bullishness when it comes to Asian stocks. This is following advances for U.S. equities for the second straight trading day.
Investors feel like it is the time for them to go long on U.S. and Asian stocks at the moment, as we are seeing somewhat of a recovery outside of the Eurozone. This offers you the chance to make some high returns before Christmas sets in.
Banking stocks are in very high demand, which is why you may want to look into opening all options in Bank of America this afternoon.
Gold steadily going higher
Gold futures did start the trading session lower, but it is trading higher as of now by $3, as there has been a return of confidence with leading commodities such as gold futures. Traders feel that it is worth I for them to open Calls in gold futures. Therefore, you may want to see what the returns are in it for you when it comes to gold futures this Tuesday.