Binary Options Daily Analysis: Asian Stocks Make Big Gains this Morning!
The demand for the greenback is very today. Investors just feel that it is the time to buy into the USD. The GBP/USD currency pair is actually higher today by 0.06% at $1.5024. However, the dollar is up versus the Aussie and loonie in the most recent trading. The dollar’s gains could be extended if the U.S. fails to publish a lot of positive data once it is release from the news wires.
The European single currency is trading lower versus the majority of its peers today. The EUR/USD pair has tumbled and so has the EUR/GBP. This is despite the euro showing some strength a few hours ago. This shows just how volatile the fore market is. Therefore, you will need to be aware of the different opportunities available. The EUR/USD pair will be on focus throughout today’s trading session, so be aware.
The yen has slumped since the release of positive economic data from the nation’s economy earlier. In addition, the Japanese stock market rally has put a lot of downward pressure on the yen today. The USD/JPY pair is higher at the moment by 0.75% at 95.55 yen. It is trading near its high level in 4 years. If there is a rally in U.S. stocks once the U.S. market opens later, then this may put a lot of bearish pressure on the JPY. The USD/JPY may slide further this Friday.
Asian stocks went from strength to strength this morning. In fact, Japan’s Nikkei 225 Stock Average was able to erase the losses which it made during the Lehman Brothers collapse. The advances come as traders feel that there has been a rapid improvement in the global economy.
The MSCI Asia Pacific Index gained 0.6% to 136.02. Japan’s Nikkei 225 Stock Average capped its most impressive week of gains this year. It added 2.6% earlier this morning. Hong Kong’s Hang Seng Index climbed 1.4%. Taiwan’s Taiex Index surged 0.7%. New Zealand’s NZX 50 jumped 0.5%. South Korea’s Kospi Index gained 0.15. Australia’s S&P/ASX 200 Index climbed 0.3%. China’s Shanghai Composite Index slumped 0.2%.
Rio Tinto added 1.8% to A$64.36. Other top stocks also surged earlier in the day. Traders are just very confident at the moment, which is why they are willing to take the big risks right now.
The crude oil binary option is down today by 1 cent at $91.55. This is after it was much lower earlier today. It is notable that crude has nearly capped its first week of gain sin in three.
There are a number of factors which are supporting crude these days.
The dollar has lost a lot of ground recently, putting much upward pressure on crude.
The improving global economy has provided investors with the required confidence to go bullish on crude. There was also the closure of the production terminal in the North Sea up until recently. This led to concern amongst traders.
Traders will need to stay ahead of economic events if they wish to trade crude oil today.
For example, the unemployment rate report from the U.S. will be key while you trade crude. In addition, the greenback will need to be followed closely.