Binary Options Daily Analysis: Crude Oil Bullishness on the Front pages
What we have seen for the dollar today is a lot of weakness. Traders have decided to ditch the U.S. currency today, as it seems to not be offering them high enough returns. They feel that it is a big risk by putting their money into haven assets. This is why they have ditched the dollar, yen and other currencies which are considered low yielding, etc. The dollar has made some very big losses versus the Aussie and the pound in the most recent trading. The USD is expected to make additional declines later today.
The euro is one of the most bullish currencies today, even though it was much lower a few hours ago. Traders are of the view that the euro’s losses have been overdone in recent trading sessions. Now is the perfect time to go bullish on the EUR. Further gains for the euro are very likely this Wednesday afternoon.
The yen has been hurt since the Asian rally this morning. With Japanese shares going higher, it is no wonder that traders feel that it is a good idea for them to go short on the JPY. The biggest losses have been made versus the Aussie and the euro .There will be a good amount of economic data published with regards to the yen later, so be prepared for this in late trading.
U.S. stocks were given a big boost during yesterday’s trading session. There is just so much pushing up the top stocks on Wall Street these days. Traders have a lot of confidence after the leading U.S. companies posted better than forecast corporate earnings data.
Moreover, with the Fed not going ahead with further stimulus, this is a strong sign that the U.S. economy is improving. Therefore, this should be taken into account while you trade U.S. stocks later on. Therefore, get ready to open your positions now.
Crude oil is trading up this morning by more than $1, as traders just have so much confidence in the black gold at the moment. Therefore, you may want to get in on the action when it comes to the leading energy. It is vital that you understand all of the factors which are backing crude oil futures at the moment. There is unrest in the Arab world, which has turned out to push crude prices much higher.
The political situation in Egypt is worsening. Also, there is a deepening civil war in Syria, which is showing no signs of ending. If the U.S. releases additional positive data this Wednesday, then this could give crude oil another big boost.