Binary Options Daily Analysis: Asian Shares Erased Losses in the Final Hours of Trading!
The dollar is weaker this morning versus all of its peers apart from the yen. The GBP/USD forex pair is higher today by 0.15 at $1.5265. The AUD/USD pair has jumped 0.51% to $1.0300. There is a lot of risk appetite today. This is exactly the opposite of what we saw yesterday when traders were buying into haven currencies. One of the weakest currencies this Friday is the U.S. dollar, and the losses may continue.
There is a lot of demand for the European single currency today. Traders have taken it upon themselves to purchase Call options in the EUR, as this currency seems to be offering very high returns to forex traders. The EUR/USD forex pair has surged 0.27% to $1.3224. The EUR/GBP cross is trading higher at the moment by 0.23% at 86.67 pence. The euro could extend its gains if European equities rise further in the coming hours of trading.
One of the weakest currencies this Friday is the Japanese yen. Traders feel that it is time to sell the yen, as it made impressive gains during yesterday’s trading session. The upward trend for the yen on Thursday was largely owed to the lack of risk appetite. However, investors are much more confident this Friday, which has led them to sell the JPY on all fronts. The Japanese yen has also made heavy losses versus the yen and the Aussie.
Asian stocks erased losses in the final hours of trading earlier this morning. This is after they fell the most in a week yesterday. The most notable rebound was in Australian and Japanese shares.
The MSCI Asia Pacific Index was most recently trading at 133.53. This is after it slumped 1.3% yesterday morning. Australia’s S&P/ASX 200 Index advanced 0.8%. New Zealand’s NZX 50 Index rose 1.1%. South Korea’s Kospi Index jumped 0.2%. China’s Shanghai Composite Index dipped 0.5%. Japan’s Nikkei 225 Stock Average Index gained 0.7%. Taiwan’s Taiex Index lost 0.1%. Hong Kong’s Hang Seng Index slid 0.4%. Singapore’s Straits Times Index fell 0.1%.
Westpac Banking Corp. gained 1.5% to A$29.92. Sony Cop. slipped 2.6% to 1,296 yen. Belle International slid 3.8% to HK$14.70.
The gains are good in showing that there is resilience in Asian shares. This may lend a helping hand to U.S. stocks later.
Crude oil futures have been hit heavily lately. This comes after many weeks which saw bullishness for the commodity. The crude oil inventories showed a 4.1 million barrel increase.
This is versus the projected 2 million barrels rise, which was forecasted by analysts. In addition, U.S. supplies are at their highest level since 1992.
The good news is that the energy is trading higher this morning by 53 cents at $93.36. However, it is still near its December lows.
The weaker dollar today has helped boost oil prices. The other factor which has given the crude oil binary option a much needed boost today is that European stocks have opened higher.
This bullish sentiment from both European and Asian stocks is having a positive impact on crude oil. There could be further gains if the U.S. market opens higher.
There was a lot of bearishness for the USD/JPY pair during yesterday’s trading session. It has actually made a bullish comeback this morning, as it trades higher by 0.34% at 93.42 yen. Traders have bought into the pair, as they feel like taking more risks today. This is in contrast to the lack of bullish sentiment which we saw yesterday.