Binary Options Daily Analysis: Crude Rises Following Early Morning Losses!
There has been a lot of confidence for the U.S. dollar since early morning trading. Investors have decided to sell the greenback due to there being a lot of confidence in the U.S. currency. However, the greenback has been able to advance versus the British currency, as the U.K. economy is very weak these days. The GBP/USD forex pair is much lower this Thursday by 0.11% at $1.5003.
The euro is being purchased on all fronts today, as the increased market confidence has resulted in traders going bullish on the EUR. The EUR/USD is higher today by 0.38% at $1.3017. The euro has also gained a lot of ground versus the pound, yen and a number of other currencies. All of this comes after European stocks advanced yesterday. The increase in confidence is the big boost that the European currency has been waiting for a long time.
The USD/JPY pair is up today on solid U.S. jobs data. There were fears that the pair would dived, but this was not meant to be. The yen is not as strong as traders thought it would be today. This is largely owed to the rally in Asian stocks earlier this morning. The yen has been trading much lower versus currencies such as the euro and Aussie in recent trading days. Much will be determined by the release of global economic data later on this Thursday.
There were gains in Asian stocks in previous trading days. Unfortunately, these advances have it been extended into today’s trading session. However, Japans Nikkei 225 Stock Average was able to surge notable. The Nikkei surged ahead in the early morning Asian session after the Bank of Japan called off another round of bank purchases.
The MSCI Asia Pacific Index fell 0.3% to 135.44. Australia’s S&P/ASX 200 Index slumped 0.2%. South Korea’s Kospi Index fell 0.8%. China’s Shanghai Composite Index fell 1%. Taiwan’s Taiex Index advanced 0.1%. Japan’s Nikkei 225 Stock Average managed to gain 0.1%.
Samsung slipped 2.6% to 1,520,000 won. Sharp declined 7.9% to 314 yen.
There may be certain implications for U.S. stocks once the markets open across the Atlantic later on. The losses for Asian stocks and indices show that the bullishness will not last forever. Therefore, traders really need to be prepared for all possibilities this Thursday.
Crude oil was much weaker in early morning trading. However, the black gold has since made a comeback for a number of reasons.
The crude oil binary option is up today by 29 cents at $90.72. There are a number of reasons for the bullish comeback for the commodity.
The much weaker dollar has played a big role today. In addition, the commodity has been somewhat oversold in recent trading days. Therefore, the gains which we are seeing right now are more than welcome.
The fact is that there have been a string of releases for U.S. stocks this week. This has led to more confidence in commodities. Therefore, it was only time that crude would be able to gain. It could be that there will be further gains ahead for the commodity is if there is anther rally with U.S. stocks.
The USD/JPY pair is higher by 0.1% at 94.17 yen. Traders have opted for the pair today, despite it sliding in early trading. The yen has happened to fall since early morning trading. This is after there was a rally in Japanese stocks. The decision by the BOJ not to push ahead with further stimulus has hurt the yen.