Binary Options Daily Analysis Asian Stocks Mixed; Dollar Higher
The stocks market rally in the U.S. yesterday has really turned out to help the dollar this morning. The USD/CHF has advanced 0.23% to 94.86 centimes. The GBP/USD is lower this morning by 0.27% at $1.5239. There is little demand for risky currencies today, which has played into the hands of the greenback. Traders have taken advantage of the bullish U.S. currency by going long on it. There being another rally in the U.S. for stocks will be key in determining how much stronger the USD will be later on this Thursday.
The euro started early morning trading much weaker. However, it has happened to gain a lot of ground since then. The most impressive advances have been made versus the pound sterling. The EUR has also stated to flex its muscles versus the dollar too. The pair could end today’s trading session much higher if the same behavior countries.
The Australian dollar is a surprise gainer this morning. Traders are quite confident in the Aussie at the moment, even though there are fears of an economic downturn. The dependence of the Australian economy on commodities is a well-known fact. Excluding this point, the weakness of the economy, and why traders may want to start being cautious while trading the AUD each trading day. The AUD/USD pair is up today by 0.58% at the 91.38 cents level.
There is a lot of volatility in global stocks at the moment, as traders are not 100% sure what to put their funds into. On one hand, there was a surge in U.S. equities yesterday.
On the other hand, Asian stocks are mixed this morning. Traders are fearful of a possible financial crisis in China and Japan.
It may be the case that U.S. stocks will continue their bullishness once the markets open later.
Crude oil has been higher for the past few trading days. It has gained this morning by $1.42 at the $102.02 level. There are many factors which are pushing up the black gold today. Among them is the unrest in Egypt.
There are also many problems with regard to the Syrian civil war at the moment. The reality is that there is a lot of confidence in energies and in the commodities market as a white morning. This has been the case for the past few days now.
Global political and economic events have been key in supporting crude oil lately.
Therefore, you required to follow these events closely if you consider yourself an oil trader. Prices may even rise higher than there current level in the latter hours of trading.