U.S. Stocks Go Bullish on Positive Global Data!
Dollar largely mixed today
The greenback is trading in a rather mixed fashion today versus its main peers. The AUD/USD pair is up today by an impressive 0.46% at $1.0346. The USD has lost ground versus the Canadian dollar, but is trading higher versus the euro. It is important to take into account that the losses versus the Aussie are largely owed to the positive jobs data recently published from Australia during the Asian trading session.
Euro dives ahead of EU summit
The euro is trading lower versus its peers today, as there is the EU summit ahead. The EUR/USD currency pair is down this morning by 0.1% to $1.2949. The EUR/GBP cross is lower by 0.17% at 86.72 pence. Traders have decided to ditch the pair today, as there is not much backing it. It is vital that you know the GBP has made a bullish start. Therefore, the gains which we are seeing today are only natural.
Sterling gains on all fronts
The pound sterling is trading higher on all fronts today. Traders have decided to buy into the British currency, as it seems to be offering traders very high returns. They just feel that now is the time to go bullish on the British pound, as the recent losses may have been overdone. There are a lot of technical factors backing it at the moment. The GBP/USD pair is higher today by 0.08% at $1.4935, and further gains may be ahead.
JPY sumps this morning
What is quite notable is that the yen was much higher in early morning trading. The yen has actually slumped ever since. Its biggest losses today have been against the greenback. The USD/JPY forex pair is trading higher at the moment by 0.3% at 96.41 yen. Traders have bought into other currencies and sold the yen after there was a rally in U.S. stocks yesterday.
Stocks rally on Wall Street
There was an important rally capped on Wall Street yesterday. Traders decided to buy into the leading stocks, as there has been so much positive data published from the U.S. economy recently.
The Dow Jones is higher today by 0.04% at 14,455.28. The Nasdaq 100 has lost 0.08% to 2,798.68. The S&P 500 is up 0.13% at 1,554.52.
Blackberry gained 8.15% to $15.65. Facebook retreated 2.69% to $27.08. Microsoft Corp. advanced 0.04% to $27.92.
It is likely there will be anther rally this Thursday afternoon.
The gold binary options is lower
Gold futures have been under much positive pressure as of late. In fact, the commodity was up a few hours ago. However, it is now about $2 lower, as traders are willing to take risks and ditch safe-haven currencies. The gold binary option is known as a haven. Therefore, when there is more confidence in the markets, traders tend to sell gold. Instead, they put their money into riskier assets. Tis trend may continue as traders have a lot of confidence at the moment. Therefore, be sure to open Put options in the gold binary option in the next few hours today.
Trade of the Day
USD/JPY pair may rise further
There is a lot of bullishness for the USD/JPY forex pair today. It has continued to go from strength to strength. Traders are very much going to buy into the pair a there is the forecast of further gains in the next few hours. Therefore, you may want to go bullish yourself if you are up for making high returns this Thursday afternoon.