Binary Options Daily Analysis: Crude Oil Advances Along with Asian Stocks!
The greenback is up against the majority of its major currency counterparts this morning. The main gains have been versus the pound, Canadian dollar, yen and the euro. The USD/CAD pair is trading higher this morning by 0.07% at 1.0266 Canadian dollars. The AUD/USD pair is a touch higher at $1.0283. It is important to take into account that there are many hours left of the trading day; so much volatility will lie ahead.
The euro is not as strong as many investors thought it would be. There has not been much negative data from the region, but there are still concerns with regards to the European debt crisis. The EUR/USD currency pair is lower this morning by 0.15% at $1.3026. The euro has actually surged versus the yen this morning. The euro may make a comeback versus the greenback later on today.
The USD/JPY pair is stronger today by 0.2% at the rate of 96.48 yen. Traders have ditched the yen today, as it has turned out to be the weakest currencies. Investors just do not feel that it is the right time to buy into the Japanese currency, as there are alternative assets to put their money in. The forecast of more stimulus by Japanese officials has resulted in much bearishness for the yen. It is likely that the Japanese currency will continue sliding versus its main currency counterparts this Tuesday.
There was a fall in Asian stocks this morning, enabling them to retreat from their 19 month high. This comes after there was a rally on Wall Street on Monday. This was led by Chinese shares extending their declines.
The MSCI Asia pacific Index slipped 0.2% to 136.34. Japan’s Nikkei 225 Stocks Average was hit earlier this morning, despite advancing a lot in the former part of Asian trading. Hong Kong’s Hang Seng Index slipped 0.1%. China’s Shanghai Composite Index lost 0.8%. This is after it was up by as much as 15 in early trading. South Korea’s Kospi Index slipped by 0.5%. Australia’s S&P/ASX 200 Index slipped 0.4%.
The bearishness we saw for Asian equities this morning is in contrast to the advances which we witnessed yesterday. This shows just how quickly the situation can change. Therefore, traders need to be aware of the volatility of stocks.
There has been a lot of bullishness for the crude oil binary option lately. The commodity is up this morning by about 30 cents. This is following the gains which the commodity made during yesterday’s trading session.
The advances came despite the forecast that crude oil inventories surged and Saudi Arabia increased crude output. It may be that there just is a lot of risk appetite at the moment, which has led investors go bullish on the leading assets.
Crude oil has been one of the biggest benefactors. It may be that the energy is currently correlated with the rally which we saw on Wall Street during Monday’s trading session.
On the plus side, the news that crude has continued to advance is positive.
It shows that there are assets which are rising, meaning that traders can benefit from the latest market movements during each trading session.
The GBP/USD pair is very weak, as the pound is in very low demand. The reality is that the British economy is stagnant, which has pushed traders away. The GBP/USD pair is lower this Tuesday morning by 0.12% at $1.4897. Traders have taken it upon themselves to put their money in more profitable assets.