Gold surges to 16-week high on U.S. stimulus bets. Dollar and yen slide notably this Thursday monring
The EUR/USD forex binary option is up notably this morning, as the Fed meeting minutes was announced yesterday at 18:00 GMT, in which it was revealed that many members stated that the Fed may go ahead with stimulus, even if the U.S. economy did improve. This is a marked turnaround from the sentiment previously from the U.S. central bank. The EUR/USD pair is higher today by 0.26% at $1.2562. It is expected that there will be further gains in the pair, meaning that traders should get ready to open Call options now. The GBP/USD forex binary option rose significantly during Wednesdays’ trading session following the minutes which were published from the Federal Reserve’s most recent meeting. In addition, the weak U.S. housing data published yesterday also increased the likelihood of further U.S. economic stimulus. Traders have dropped the dollar lately due to the preference for riskier currencies. The GBP/USD pair is continuing to advance from yesterday by 0.13% to $1.5901. Opening daily Call options in the pair is the most popular trade of the day. Both the dollar and the yen are very weak today, as there is little demand for safe-haven currencies. Traders have become optimistic due to the likelihood of the Fed introducing new stimulus measures in the near future. In addition, the European Central Bank is expected to come out with new plans to push borrowing costs of leading Eurozone nations lower. The USD/JPY forex binary option is lower today by 0.08% at 78.53 yen. In the previous weeks the dollar did gain much ground versus the yen. However, since the return of market optimism is on everyone’s minds, the greenback has started to lose strength vs. the Japanese currency. It is forecast that these losses will be extended. Therefore, start opening your Put options in the USD/JPY as the trading days takes hold. Oil futures advanced yesterday on inventories sliding more-than-forecast and due to the weaker dollar. Crude prices are higher this morning by 97 U.S. cents at $98.23. There are varied reasons why prices have gained so much today. The ongoing conflict in Syria and the threat of it is spreading to surrounding countries has led to buying of the commodity. In addition, the news that the Fed is likely to boost U.S. growth with stimulus has also played its part. Crude oil may continue building on its strength later today. Gold futures are up by $28.15 at $1,666.45 already in Thursday morning’s trading session. Gold has reacted very positively to the bearish dollar and on the news that the Federal Reserve may be soon flexing its muscles by printing more money. The result of this would debase the dollar, which in turn could help boost gold prices. This explains why traders have gone so bullish on gold today. Gold futures are set to continue rising in the hours ahead. Opening Call options in the gold binary option is one of the most popular trades today. The Dow Jones has not been so strong in recent days, despite the likelihood of further stimulus by the Fed. This usually results in the equities market rising on Wall Street. However, there have been other factors at play when it comes to the leading U.S. indexes and stocks. The Dow Jones remains to be one of the most traded global indices, but it is affected by a variety of factors. Traders are already starting to open Put options on the forecast that the Dow Jones will slide later today. Free Binary Options Signals: Gold Advances to 16-Week High on Fed Easing Forecast! Free Binary Options Signals: Gold Advances to 16-Week High on Fed Easing Forecast!
