Binary Options Daily Analysis: Crude Prices Fall During a Disappointing Week!
There were some highly important gains made for the dollar last week. On Friday, the dollar was rather mixed versus its peers. The USD/CHF pair declined 0.16% to 92.98 centimes. The AUD/USD climbed 0.7% to $1.0320. The USD/CAD pair advanced 0.16% to $1.0203 Canadian dollars. There is set to be much volatility during Monday’s trading session amid the string of economic data releases which are to be published from the world’s largest economies later on.
The EUR/USD pair fell on Friday by 0.01% to $1.3188. The EUR/GBP cross jumped 0.49% to 86.90 pence. The gains versus the British pound showed that the euro has a certain degree of strength. However, the EUR/USD fell to a 6-week low on Friday, as the Eurozone’s fragile economy is on traders’ minds. This will be the case in the coming days of trading. Therefore, there will need to be some positive economic data in the hours ahead.
The Japanese yen made some heavy losses on Friday following the rise in Asian stocks. There were also important gains when it came to Japanese shares and indices. This led traders to sell the yen on the rise in risk appetite at the end of last week. The USD/JPY pair ended Friday’s trading session higher by 0.26% at 93.36 yen. Traders just felt that Friday was the perfect time to buy into the pair, as more gains are likely ahead.
There was a lot of bullishness for Japan’s shares last week.
This allowed the Nikkei 225 Stock Average to cap a second straight week of gains. The Nikkei rose on Friday by an impressive 0.7% to 11,385.95. It was up for the week by 1.9%.
Mitsubishi UFJ Financial Group Inc. fell 1.4%. Sony Corp. slumped 2.45. This was due to news about the company’s negative credit flow.
There have been many factors affecting the financial markets during the previous trading week. There was a good performance amongst shares overall in Asia. For example, they were bullish on the leading companies posting positive earnings.
This was in contract to what we have seen in previous trading weeks.
There is set to be much data from the leading economies today, which will drive both Asia and global shares, so make sure you are on top of the news as it is published.
Oil prices rose on Friday by 49 cents to the rate of $93.33. Despite the important gains for the energy on Friday, the commodity ended the week much lower.
This was after many weeks of gains for the crude oil binary option.
The bullish dollar was one of the main reasons why oil prices slipped. In addition, traders were just not willing to take big risks when it came to energies.
There have been many negative signals coming out of the Eurozone and a number of other regions recently, which have led traders to think differently about their trading portfolios.
The rise in crude inventories by 4.1 million barrels versus the 2 million barrel prediction, hoed that the supply of the energy is rising. It may be that the commodity will gain following the heavy losses of last week.
The GBP/USD pair slipped on Friday by 0.5% to $1.5174. Traders sold off the currency pair last week, as there has been a lot of negative news that has been published from the British economy. This has led traders to sell the pound sterling and buy into the greenback. It is expected that the pair may make a comeback today.