Gold Futures Edge Higher Today!
Dollar bullishness gets extended
The bullishness for the dollar has been extended today. Traders have bought into the U.S. dollar today. They have been attracted to the U.S. currency due to the high returns which it offers traders. When looking at the currency market as a whole, it is apparent that the greenback is one of the most stable currencies. It will be interesting to see if the dollar will continue gaining ground versus its peers this Monday.
Euro slumps on weak data
The Eurozone has published a string of weak economic data recently. This has turned out to put much downward pressure on the European single currency. As a result, traders have dropped the euro and bought into alternative currencies. They understand that if the nations making up the Eurozone are not showing an improvement in their economies, then there is no point in going bullish on the euro. Put options in the euro are highly popular now.
GBP in low demand today
The pound is in low demand today, as traders feel that there are too many risks tied to the British economy. This has had really weakened the greenback today, as traders are unwilling to take risks. The pound has lost value versus the euro, dollar and a number of other currencies. There will be a number of economic events from the region which will need to know. So follow the situation very closely. Put options in the GBP/USD are in high demand.
JPY surges much today
The yen is the most bullish currency in the latest round of trading. Its biggest gains have been versus the dollar and the pound. The reason for the upward pressure on the Japanese currency has been the lack of risk appetite amongst binary options traders. They just feel that it is time to buy into the yen, as the currency has been oversold.
Indexes go volatile again
The leading stocks and indexes went very volatile yesterday. This came as traders were not sure if which assets to put their money in. this is due to there being so many trading opportunities. Therefore, you will need to know the right one for you.
Among the biggest movers have been the S&P 500 and the Dow Jones index binary options.
There has also been a lot of movement when it has come to the most traded stocks. For example, there is a lot of speculation with Apple.
The gold binary option surges
The gold binary option has surged today. Investors decided to buy into it as it offered them very high returns. Up until a month ago, gold was one of the weakest assets. However, since 2 weeks ago, there has been a return of bullish sentiment in gold. This is why traders are in the mood to buy into the yellow metal in the most recent trading. There are a number of factors housing the metal higher today. For example, the commodity is gaining on its safe-haven status, which is obviously a plus for gold. Call options are a very popular trade for gold.
Trade of the Day
Yen makes big gains today
The dollar has fallen versus the yen today. However, it has risen versus a number of its currencies. You need to follow all the movements of the pair in the coming hours. This will help you make the right decisions in the USD/JPY pair. There may be a fall in the USD/JPY pair in the coming hours, so open Put options this Monday.