U.S. Stock Decline in the Headlines!
USD slides into the abyss
The USD is much lower in the latest round of trading, as traders just do not have enough confidence today. They feel that the dollar is overbought, so it is the right time to sell it. The biggest losses have been made versus the Aussie and the loonie in the latest round of trading. Traders feel that further losses will be on the cards for the U.S. dollar this Thursday.
EUR goes much higher
The EUR/USD currency pair is higher today by 0.13% at $1.3050. The euro has also made some important gains versus the British pound, as traders feel that the euro has been oversold in previous trading days. There has been a big stock market fall in the euro recently, but this has not deterred investors from putting their money into the euro this morning.
Pound rather week
The GBP/USD pair is weaker today by 0.05% at $1.5324. Traders have decided to ditch the pound as it has not been providing traders with high enough returns. The weakness this morning is largely owed to retail sales falling in March by 0.7%. Things are really bad when speaking of the British economy. For example, the unemployment rate keeps on rising, which has led to a slump in the sterling. Traders have instead put their money in currencies which offer them higher returns. The GBP is likely to continue declining versus its peers in the days ahead.
The USD/JPY is trading higher today by 0.14% at 98.25 yen. Traders feel that it is a good idea to go bullish on the pair, as it has been providing them with such high returns lately. This is after there was a slump in Asian stocks earlier on. The fact is that there is a lot of confidence in the forex market today. This has led to the yen reversing the gains it made earlier on.
U.S. stocks slide on lack of risk appetite
We saw a fall in U.S. stocks yesterday, as there was a lack of bullish sentiment. This is in contrast to Tuesday’s session when we saw a stock market surge. All of this shows just how volatile the markets can be each trading day.
The Dow Jones dived 0.94% to 14618.59. The Nasdaq 100 fell 1.84% to 3204.67.
Apple slipped 5.5% to $402.80. Pfizer plummeted 0.23% to $30.87. J P Morgan Chase lost 3.51% to $46.79. AT&T dipped 0.42% to $37.78.
Gold makes a bullish comeback
The gold binary option advanced $14.45 to $1,397.45. Traders now realize that gold futures are very cheap, which means now is the right time to go bullish. The commodity is higher for the third straight trading day, as traders realize that there are nay important trading opportunities at the moment. The weaker dollar is really putting a lot of upward pressure on gold right now, so make sure to be informed. Therefore, they need to get in on the action if they are up for making the money which they deserve in the coming hours of trading today.
Trade of the Day
Upward pressure ahead
Gold is likely to continue being under a lot of upward pressure, as traders realize that there is so much money to be made at the moment. This is why you need to get in on the action if you are an ambitious gold trader. Call options in gold is set to bring you the desirable returns.