Binary Options Daily Analysis: USD Losing Ground Now
The dollar started today’s trading session much stronger. Investors felt that it was worth it for them to go bullish on the dollar in early morning trading. The GBP/USD forex pair is trading higher as of now by 0.6% at $1.5246. The dollar has also started to lose ground versus the Aussie. However, the pair was much weaker in early morning trading. This shows just how quickly the situation can change in each day in the forex market. That is why you will need to stay ahead of all the events if you are up for making money.EUR
There is a lot of weakness when speaking of the European currency today. The EUR/USD pair has slumped a lot, as traders feel that it is not worth risking their money in the European currency. This is why you must understand all of the factors which are driving the euro at the moment.
The yen has continued to show just what a risky currency it is today. Traders are simply not feeling that it is right for them to take big risks when it has come to the Japanese currency this morning. With Asians stocks diving into the abyss, it is no wonder that investors have taken it upon themselves to sell the yen on all fronts. More weakness for the JPY is likely to be ahead this morning.
Global stocks have been hit very hard in the past day of trading. We saw a slump on Wall Street yesterday and a lot of weakness with Asian stock this morning.
Japanese stocks were hurt in particular. There is currently much bearishness in the global equities market, even though a number of countries have actually posted a lot of positive economic data. This is evidence of just how unpredictable the markets can move each trading day.
The good news is that crude oil has been one of the most bullish commodities in the past 2 trading days. It has surged by several dollars since the beginning of yesterday’s session. Traders seem to have a lot more confidence in the black gold today.
This has largely been due to the return of risk appetite into the commodities market. In addition, there is a lot of unrest in the Arab world. This is important, as this is where a lot of the world’s oil reserves are. Therefore, when a civil war in Syria gets out of control, it is no coincidence that we see oil prices skyrocket.
Traders are already buying into crude en masse. Therefore, you should be prepared for all possibilities while trading the energy this Wednesday afternoon.