Binary Options Daily Analysis: Asian Stocks Mixed on Light Trading!
The dollar was rather mixed in the early hours of the morning, but it soon seemed obvious who the biggest winner was. As the early hours of the trading day passed by, the greenback gained ground to what we are seeing now. Traders just feel that it is worth it for them to go long on the greenback this morning. The GBP/USD forex pair is trading lower as of now by 0.17% at the $1.5267 price level.
The EUR started the trading session lower on all fronts, but there has been a certain degree of bullishness that has crept into the forex market. The euro is trading lower versus the greenback, but higher versus the British pound. The EUR/GBP cross has gained this Monday morning by 0.12 percent to the 86.96 pence level. It is likely that the euro will build on its gains later on.
There is a lot of strength when speaking of the Japanese currency this morning. Traders have decided to buy into the yen, as they are in the mood to take some big risks at the moment. Well it is hard to really confirm this, as the stock market slump in Japan has turned out to lend the Japanese currency a lot of strength this morning. It has made 0.17% of inroads into the USD in the past hour.
We saw an impressive rally in U.S. stocks at the end of the previous trading week, as traders just had a lot of confidence. This is despite the economic data on Friday from the U.S. economy being far from convincing. There is mixed behavior when speaking of Asian stocks this Monday morning, as traders are trying to work out which trades to put their funds into. This is why you will need to be very careful while trading the markets in the next few trading days. Traders will need to be focused on the economic data from the Eurozone in the hours ahead. There will be a lot of manufacturing data that will be key to driving the financial markets.
Crude oil did make some losses during Friday’s trading session, as investors simply turned off by the lack of positive economic data. However, the commodity is trading higher this morning by 20 cents, as there is a return of confidence in the black gold.
The fact is it was oversold last week, and the gains which we are seeing this morning are of no surprise. Therefore, you may want to look into opening Call options in the crude oil binary option if you are up for making some very high returns form your investments in the next few hours of trading.