Binary Options Daily Analysis: Japanese Stocks Advance on Earnings!
The dollar has upheld its gains versus its peers. This is after slumping a lot during yesterday’s trading session. The GBP/USD pair is lower by 0.2% at $1.5732. The USD/CHF pair is higher by 0.02% at 0.9216 Swiss francs. The dollar has also made inroads into the Canadian dollar and the Australian dollar. The result of the U.S. GDP data will be crucial in driving the dollar’s main pairs once U.S. trading begins.
Traders have decided to buy into the euro today. It has gradually risen versus its peers. The EUR/GBP cross is higher today by 0.29% at 85.83 pence. The EUR has also climbed vs. the JPY. With there being more confidence in the financial markets today, the obvious gainer has been the euro. With the European debt crisis on the backburner, traders are only happy to go bullish on the euro. The EUR’s gains may be extended today.
The yen has tumbled today after retail sales fall and Asian shares climb. There is just not enough supporting the Japanese currency as of late. The result has been traders putting their money into alternative assets. The USD/JPY pair has soared by 0.52% to 91.19 yen. The yen has also lost a lot of ground versus its other peers. Traders expect the yen to slump in the next few days.
Asian stocks, led by Japan, surged on positive earnings and on the speculation that the Federal Reserve will announce fresh stimulus measures. The leading Asian shares were also given a boost by the rally in the U.S. yesterday.
The MSCI Asia Pacific Index advanced 0.7% to 133.47. Japan’s Nikkei 225 Stocks Average gained 2.3% and finished above the 11,000 level for the first time since April 2010. Australia’s S&P/ASX 200 Index made gains of 0.2%, climbing for the 10th straight day. This is the longest winning streak for the index since October 2003. South Korea’s Kospi Index advanced 0.4%. Hong Kong’s Hang Seng Index climbed 0.8%.
Yahoo Japan gained 17% to 37,250 yen. Softbank Corp. jumped 3.6% to 3,175 yen. ENN Energy fell 2.7% to HK$36.40.
The behavior we have seen lately for Asian equities has been very impressive. The positive economic figures from the U.S., China and other leading economies have played an important role in driving the region’s bourses higher.
The crude oil binary option has climbed week after week. Traders just have a lot of confidence in the energy these days.
There are plenty of reasons to buy into crude oil at the moment. Economic figures show an improvement in the U.S. and other top economies.
In addition, positive earnings from the U.S. to Asia companies have given crude a lot of support. It is important to take into account that the greenback has been weak in the past few days, which has given traders the confidence to open Call options in crude oil.
The commodity is up today by 4 cents at $97.81. All eyes will be on crude oil inventories and the Federal Reserve statement layer. If the greenback weakens, then this could give oil prices additional support this Wednesday.
The EUR/USD forex binary option started the trading session lower, but has gradually gained. The European single currency is in high demand, as nations from the region have shown an improvement in economic figures. This has therefore given traders the reason to buy into the euro and sell the dollar in the past hour of trading. The EUR/USD pair in higher this morning by 0.09% at the $1.3504 level.