Stocks Dive on Thursday
Trade of the Day
Much confidence in the USD/JPY pair
Traders have a lot of confidence in the USD/JPY forex binary option today. They feel that it is worth it for them to go long on the pair due to the high returns which they are receiving. Both currencies are very weak today, which will help us understand why the greenback has been able to make inroads into the yen this morning. It would not be a surprise if the pair continued building on tis gains later this Friday.
Dollar diving into the abyss
The dollar is diving into the abyss this morning, as the Fed has no clear direction with regards to the future of the U.S. economy. This is why traders have ditched the dollar, and bought into its counter currencies. This is the beaver which we have seen in the past few hours of trading today. The biggest losses for the dollar have been versus the Aussie and swissy. There will be consumer confidence data from the U.S. later, so make sure to follow this economic release as it is published from the news wires.
EUR down ahead of economic data release
There is a lot of weakness for the European single currency this morning, as traders feel that it is simply not worth it for them to go short. This is as there are simply just so many risks in the financial markets at the moment. The fact is that the European currency has been able to make impressive gains in previous trading days. However, the EUR has not been as fortunate this morning. Therefore, expect further losses in the hours ahead.
GBP rather mixed today
There is a lot of mixed behavior when speaking of the British currency in the latest round of trading. On one hand, it has managed to make inroads into the euro. On the other hand, it has slide versus the dollar. Traders just feel that there is not enough data backing clear bullishness for the pound. This helps explain why the GBP is trading in a very volatile manners today.
Yen very unstable
There is a lot of instability with regards to the Japanese currency today. Traders favor selling the JPY, as it is simply not offering them the returns which they deserve each trading day. The most impressive gains for the yen have been against the euro. However, it has made some very big declines versus the greenback in the latest round of trading.
Stocks in U.S. made big fall
We saw a big dive with U.S. stocks on Thursday. There was just not enough confidence in the financial markets. This result was the U.S. stock market diving into the abyss. The lack of direction by the Federal Reserve has led to a lot of weakness in the markets. The consequence of the above was the Dow Jones index sliding by more than 200 points. Traders fear the same results in the hours ahead.
Gold bit higher
Gold futures are higher by nearly $2 today. Traders are of the view that is the right time to go long on the gold binary option. This is so, as there are just so many factors driving the financial markets today. The weakness of the dollar has lent the gold binary option a helping hand in the most recent trading. This should be taken into account if you are interested in trading the financial markets at the moment. Gold is set to build on its current gains in the hours ahead.