Binary Options Daily Analysis: Asian Stocks Cap Gains on Jobless Claims!
The dollar is trading lower on all fronts this morning, as there is a lot risk appetite in the forex market. Traders are willing to sell haven currencies and buy into riskier ones. This is owed to a number of factors including the recent global tocks market rally. In addition, traders have decided to go bearish on the greenback after the U.S. published positive jobs data on Thursday. The GBP/USD pair is higher by 0.07% at $1.5092.
There is a lot of demand for the euro today, as traders are willing to take a lot more risk. With the increase in risk appetite, the euro is only naturally going higher. The EUR/USD is up 0.13% at $1.3022. The EUR/GBP cross has gained 0.02% to 86.26 pence. It is likely that there will be further gains for the euro once the U.S. session takes hold.
The yen has declined ever since the stocks market rally in Asia. It gave traders the required confidence to go bullish on the Japanese currency. The USD/JPY pair is trading higher today by 0.03% at 96.13 yen. Traders have taken it upon themselves to ditch the Japanese currency as there is very little demand for havens. As a result, traders have bought into the JPY’s counterparts. The yen is set to lose more value as the trading day drags on. Therefore, you may want to go short on the yen.
There was a rally in Asian stocks and indices earlier this morning after the U.S. published positive jobless data. This allowed the leading benchmark index to main for a fourth straight trading week. In addition, the news that Kuroda was confirmed by the upper house as BOJ governor gave traders a lot of confidence.
The MSCI Asia Pacific Index gained 0.8% to 136.35. Japan’s Nikkei 225 Stock Average advanced 1.2%.New Zealand’s NZX 50 Index advanced 0.1%. Australia’s S&P/ASX 200 Index rose 1.4%. Singapore’s Straits Times Index climbed 0.6%. Hong Kong’s Hang Seng Index advanced 0.8%. This is after it fell 0.3% in early morning trading. China’s Shanghai Composite Index gained 1.7%. Taiwan’s Taiex Index gained 0.1%. South Korea’s Kospsi Index slipped 0.5%. This is despite being higher by 0.4% earlier in the trading session.
Sony Corp. climbed 9.7% to 1,649. Nikon Corp. advanced 2.2% to 2,254 yen yesterday afternoon.
Crude oil is about to cap another bullish trading week, as traders became a lot more confident due to the release of much positive economic data from the U.S. economy. The gains come even though there was a big increase in crude oil inventories. It was initially expected that the price of the commodity would decline. However, it has exceeded traders’ expectations. Crude oil is trading higher this Friday morning by 21 cents at $93.25. Traders have decided to go bullish as there is so much backing the commodity at the moment. The fact is that the dollar is weaker, putting much upward pressure on the commodity. In addition, there is a lot of risk appetite during the most recent trading.
Oil is one of the most bullish commodities today. Traders have decided to go bullish on crude oil this morning, as it seems to be offering traders very high returns. The U.S. is leading a global economic recovery, which is putting a lot of upward pressure on crude prices. In addition, the stocks market rally in Asia this morning shows that traders are willing to take risks. Therefore, it is no surprise that crude continues to build on its gains.