Binary Options Daily Analysis: Crude Oil Surges on U.S. Equity Rally
The dollar is trading a lot higher versus its major currency counterparts this morning. The GBP/USD pair is lower as of now by 0.13% at $1.5197. There is a lot of strength when speaking of the U.S. dollar this morning. It has managed to make some very important gains this Tuesday morning. Investors are of the view that they will need to open Call options in the dollar today. This is as there is a lot of bearish sentiment in the forex market today. Traders should not be surprised if the dollar continues spiraling upwards this Tuesday morning.
The euro is very weak today, as traders are not willing to take risks when it comes to the forex market today. Traders feel like selling the euro after it made some very big loses in previous trading sessions. The euro has slumped versus the pound and the dollar in this morning’s trading session.
One of the most bearish currencies today is the Japanese yen. Traders feel that it is worth it for them to go shot on the yen today. This is after there was a rally in Asian stocks this morning. Traders have sold the yen as the Bank of Japan has goes ahead with some very aggressive stimulus measures. It would be of no surprise if the yen continues diving in the afternoon.
There was mixed behavior in Asian stocks this morning. Traders did buy into U.S. stocks yesterday after they did sell stocks at the end of last week on Wall Street. However, investors have decided to go long on Monday. The renewed risk appetite regards to U.S. stocks has really been owed to the release of a lot of positive economic data.
There as a lot of economic data that was published from the U.S. economy during yesterday’s trading session. The retail stocks were able to gain some ground on Monday, as investors felt they were undervalued.
The factory order data will need to be positive in order to led stocks a helping hand for yet another trading session. Therefore, make sure you stay ahead of all events.
Crude oil has been able to uphold its strength in the most recent trading. It is higher today by 23 cents. It has not been so volatile, but the good news is that crude is stable. This shows traders have a lot of confidence in the energy this Tuesday. A lot of the movement today will be dependent on the data that will be published from the U.S. and the Eurozone. It is likely that crude oil futures will continue climbing this afternoon.