Gold Weakness Returns to the Forefront
Trade of the Day
Gold going lower this morning
There is a lot of weakness with regards to the gold binary option today. Gold has been weaker in the past few hours of trading, as the dollar is mixed to a certain extent. Traders are selling gold, but it is worth taking into account that the losses are not so great. However, it may be that the gold binary option will fall even lower during today’s trading session.
Dollar mixed to lower
The dollar was stronger in early morning trading. The AUD/USD pair is lower by 0.15% at 89.34 U.S. cents. The dollar has lost ground versus the loonie. This is after the USD/CAD jumped notably in previous trading session. Traders will need to examine the forex market in order to make informed trading sessions today. It is expected that the dollar will slide lower in the next few hours of trading this Tuesday.
Euro starting to gain
The European single currency was much weaker a few hours ago, but it has since been gaining ground. The EUR/USD pair is higher at the moment by 0.08% at $1.3774. The euro is still trading lower versus the pound sterling, but there are signs that the EUR/GBP will surge later on today. There will be some economic data from Germany that will be crucial in driving the euro. Look to open Call options in the EUR/USD currency pair in order to make some high returns from the forex market.
GBP quite strong today
The pound was mixed during early morning trading. It has since gained, as investors are attracted to the pound sterling due to the strength of the British economy. This means that you will want to start following al of the developments from the British economy each trading day while investing in the pound sterling. The GBP/USD currency pair is set to build on its current gains this afternoon, so make sure to get in on the action.
JPY actually higher
The Japanese yen is one of the most volatile currencies at the moment. In fact, it is largely undervalued versus a number of its peers. This is why the JPY is trading higher as of now. The USD/JPY currency pair is lower at the moment, as traders are starting to sell their long positions in the pair. There are some impressive gains with Japanese stocks this morning after there were advances yesterday for American equities. The USD/JPY may decline further later today.
Asian stocks follow the gains of U.S. stocks
We are seeing a lot of strength when it comes to the Asian stocks this morning. This is after they underperformed for much of last week’s trading session. It is a good sign that traders have a lot of confidence in global stocks right now.
The Dow Jones and the S&P 500 are among the biggest gainers with regards to the top U.S. indexes.
Banking stocks were able to cap some very important gains yesterday, and there is a chance that these gains may be extended this morning.
Gold futures quite weak
The gold binary option is going lower, as traders just do not feel that now is the time to take risks with gold. This is why many traders have decided to go short on gold. This means that you may want to get rid of gold futures if you hold it. This has been the mood of commodities traders as of now, which means you may want to think out your portfolio.