Binary Options Daily Analysis: Hong Kong’s Hang Seng Index Surges to 19-Month High!
The U.S. dollar is trading much lower this Wednesday. The GBP/USD forex binary option has gained 0.37% to $1.6304. The USD/CHF has tumbled 0.37% to 0.9118 Swiss francs. The USD/CAD has made losses of 0.72% to 98.50 Canadian cents. Traders have sold the dollar today after the budget deal was passed in the U.S. Whenever traders get very confident; the dollar is usually the biggest loser. This is due to the U.S. currency being a haven. Therefore, it usually advances the most when there is minimum confidence in the markets. The USD could fall further later today.
The European single currency has gained versus the majority of its peers today. The EUR/USD pair is higher at the moment by 0.47% at $1.3256. The EUR/GBP cross is up today by 0.11% at 81.30 pence. The positive news from the U.S. has led traders to purchase Call options in the EUR/USD. It is important to take into account that the EUR/USD pair is strong at the moment. As a result, more traders have decided to buy into it. It will be interesting to see if the gains will be extended.
The yen is the most bearish currency today, as traders have decided to take more risks. Therefore, the demand for safe-havens has slumped. The JPY has been one of the weakest currencies in the past few months. There is still a lot of weakness in the JPY, as the nation’s new government seems more determined than ever to push through more stimulus measures. The USD/JPY pair is trading higher today by 0.35% at 87.05 yen.
Asian stocks surged earlier this morning on the passing of the U.S. budget. This is the best first trading day of the year for Hong Kong’s Hang Seng Index since 2009. This is as the Hang Seng Index advanced 2.9% to 23,311.98.
Traders have decided to buy into the top Asian stocks recently, as the news of the passing of the budget in the U.S. has sent confidence into the financial markets. This is the perfect way to start the New Year.
This is as there has been a lot of bearishness when it has come to the leading Asian stocks lately.
Traders hope that the bullishness in Asian stocks will help U.S. stocks later on this Wednesday.
Oil has risen gradually since the commencement of this morning’s trading session. Investors have become more confident in the past few days, and this confidence is reflected in the positive oil prices. Crude oil is higher today by $1.12 at the $92.94 level.
Traders have taken this opportunity to continue buying into crude, as they feel that the only direction for the energy to go today is higher. This is following the positive news regarding the U.S. budget agreement.
As the dollar falls further, traders have taken it upon themselves to purchase Call options in the crude oil binary option.
If more positive data comes from the U.S. later today, then this could help boost oil prices. All this means that you should take the extra step to evaluate the dynamics boosting oil prices today.
It is the case that the USD/JPY has been very strong lately. Traders never realized just how high it could go a few months ago. However, the USD/JPY par is up today by 25 cents at the $87.10 level. It may be the ripe opportunity to open your Call options in the USD/JPY today. So think about if Call options are good for you.