Binary Options Daily Analysis: Asian Stocks Mixed this Friday Morning!
The greenback is mixed today versus its peers after the publication of much negative data from Asia. The GBP/USD currency pair is lower today by 0.28% at $1.5812. The USD/CAD forex binary option is higher by 0.25% at 0.9999 Canadian cents. Much will be dependent on the release of U.S. data in the coming hours of trading. This is why wise traders have already started to open their positions in the USD’s main crosses.
The European single currency has been very strong in recent trading days. Traders are of the view that there is a lot of bullishness left in the euro. The EUR/USD pair is higher today by 0.49% at $1.3646. The EUR/GBP cross is up 0.73% at 86.24 pence. There has been much positive economic data from the Eurozone lately. This may be one of the reasons why the EUR has made a comeback in the past month.
The yen is trading lower on all fronts today after Asian shares were mixed. In addition, it is expected that there will be more stimulus ahead for the Japanese economy. There have been positive earnings from Japan, but other economic data has shown the economy’s weakness. The biggest losses this Friday have been versus the dollar and the euro. A popular trade this Friday morning is Put options in the USD/JPY forex binary option.
There was a lot of volatility during the Asian trading session earlier this morning. Japanese shares climbed on a weaker yen and positive earnings. However, Chinese economic data was poor today. This is after the nation published much positive economic data in previous trading days.
The MSCI Asia Pacific Index fell 0.1% to 133.07. Japan’s Nikkei 225 Stock Average gained 0.4%, its 12th weekly advance. This is the longest upwards trend since 1970. Hong Kong’s Hang Seng Index slid 0.4%.
There has been a lot of movement for the leading Asian stocks during the current trading week. This is due to the largest nations positing mixed economic data in the past few trading days. The plus of this is that there have been many market openings. However, the minus is that the markets are very unpredictable.
U.S. jobs data will be key in driving U.S. shares once the Market opens on the other side of the Atlantic this Friday.
The crude oil binary option has risen for the past several trading weeks, but it did slide yesterday. In addition, crude oil is lower today by 25 cents at $97.24.
Traders have a lack of confidence in the commodity after both the U.S. and Japan published weak employment data.
This is not what traders hoped for. In addition, the Fed will go ahead with further stimulus measures, because the economy contracted at the end of last year. One of the main reasons why crude prices are lower today is due to inventories surging during the previous trading week. When facts on the ground push down prices, traders become very aware. There will need to be positive economic data later today in order for the crude oil binary option to rebound.
The USD/JPY is higher today by 47 pips at 92.18 yen. Traders have decided to buy into the currency pair today following the weak jobs report from Japan. With the forecast that the new Bank of Japan governor will be in favor of printing even more money, it is clear why the JPY is in low demand today. Traders may continue selling the JPY and buying into the USD later on today.