Pound Going Lower on All Fronts
Trade of the Day
Gold to sell on all fronts today
Gold has been sold off in the most recent trading. The commodity is going lower by a massive $22.00. Traders have felt that it is time to ditch the commodity today. It has been pushed lower by the much stronger dollar. It is important to take into account that the much stronger dollar is putting much downward pressure on the gold binary option today.
Dollar going higher
The U.S. dollar is the strongest currency this Thursday morning. Traders are of the view that they should go long on the American currency today. This is as there has been a lot of bullish data which has been published from the American economy. This means that you will want to buy into the USD once you get a free chance. Its most impressive gains have been made versus the euro and pound in the most recent trading.
EUR mixed this morning
The European single currency is trading in a mixed fashion this morning. The euro has made inroads into the pound sterling this morning. The EUR/USD pair is lower this morning, as traders prefer the dollar over the euro. However, traders will need to follow if this can continue as the trading day continues. The euro has made losses versus the yen, as traders are waiting to see what data will be bullish from the region in the next few hours today. The euro will be very volatile today.
GBP much weaker this morning
The pound sterling has taken a very big beating lately. Traders are just not in the mood to go long on the pound sterling as of now. There will be a lot of data from the global economy today. As a result, you may want to look into selling the pound as the trading day passes by. This will at least help you make high returns from the forex market as the trading day passes by.
JPY makes important gains
There is a lot of strength for the Japanese yen today. Traders are of the view that it is the right time to go long on it this morning. The most impressive gains have been capped versus the dollar. The JPY has also made inroads into a number of its other peers this Thursday. This has come after there was a rally in Asian stocks recently. Therefore, you will want to stay ahead of the economic data closely today.
U.S. and Asian stocks very strong
We are seeing a lot of strength for both American and Asian stocks at the moment. The stock market rally in Asia came following the gains we saw for American stocks during yesterday’s trading session. Investors are of the view that now is the perfect time to take risks and go long with regards to the global stock market.
There were gains with the most traded American indices, which were compounded by the advances in Asian indices.
You may want to start buying into European and U.S. stocks this Thursday.
Gold hit very hard this morning
The gold binary option has been very weak since the beginning of this morning’s trading session. Investors have been convinced that it is the right time to sell the gold binary option. The commodity has been going lower since the beginning of today’s trading session. Gold is going lower largely due to the much stronger dollar. Moreover, the decision by the Fed to cut stimulus has led traders to sell gold today.