Binary Options Daily Analysis: Crude Oil Maintains this Morning’s Gains!
There is mixed fortunes for the greenback this morning after the G7 met. The AUD/USD pair is higher by 0.35% at the $1.0346 level. The GBP/USD is weaker today by 0.07% at $1.5650. This is after it was much higher several hours ago. Traders will need to make sure they stay ahead of the latest developments form the U.S. economy while trading the dollar. One of the main releases with be the retail sales data.EUR
The European single currency was much weaker versus its peers several hours ago on the fears over the region’s debt crisis. However, the EUR has managed to make an impressive comeback in the latest round of trading. The EUR/USD pair is higher today by 0.22% at $1.3483. The EUR/GBP cross has gained 0.32% to 86.16 pence. Traders have become more confident in the euro lately. You will need to follow the G20 meeting very closely when trading.
The yen was one of the weakest currencies in previous trading days. The Bank of Japan has taken various steps to weaken the Japanese currency. However, it has advanced notably versus the dollar and its other main counterparts in the latest round if trading this is much to the surprise of forex traders. The positive economic data from Japan earlier on gave the JPY a much needed boost, which may be extend into afternoon trading.
Many Asian shared climbed this morning due to the positive earnings of some of the largest companies. On the other hand, there was a slide in Japanese stocks.
This was largely due to the stronger yen this morning. The bullish Japanese currency today comes despite it sliding in recent trading days and falling 17% in the past 3 months.
The MSCI Asia pacific Index climbed less than 0.1% to 133.49. Japan’s Nikkei 225 Stock Average lost 1%. Australia’s S&P/ASX 200 advanced 0.9%. South Korea’s Kospi Index gained 1.6%. Singapore’s Straits Times Index added 0.9%.
CBA advanced 2.4% to A$67.11. Leighton added 11% to A$23.14. Toyota tumbled 1.8% to 4,830 yen.
All the above shows the instability we are seeing in the financial markets lately. That is why traders will need to be cautious when trading the leading shares. To do so will help you make the desired profits each trading day.
Crude oil has been climbing for the past 3 trading days. Traders have become much more confident due to the rebound in economic sentiment. At the end of last week, weak economic figures were being published from the top economies. However, recent data has shown an improvement.
Traders realize this and that is why they have bought into crude oil since the beginning of Monday’s trading session.
The crude oil binary option is higher at the moment by 14 cents at $97.64. The gains are in part owed to a number of central banks pledging to go ahead with more stimulus.
In addition, stockpiles in the U.S. slumped last week. To top this all off, comments from OPEC revealed that supplies will need be boosted 100,000 barrels a day in order to meet the current level of global demand.
The USD/JPY forex binary option is lower today by 0.14% at 93.33 yen. Traders have decided to ditch the dollar and purchase the yen today, after the pair has surged in the previous trading day. Traders were actually concerned that the JPY’s recent declines have been too dramatic. They understand that the pair is overvalued. This has given investors the confidence to pen Put options today.