Binary Options Daily Analysis: Japan’s Nikkei 225 Stock Average Caps longest Winning Streak Since 2006!
The dollar has been weaker for much of today, as traders decided to ditch safe-haven currencies for risker ones. The GBP/USD is higher today by a good amount. The AUD/USD pair is up today by 0.25% at $1.0259. There is a lot of volatility in the currency market today; as traders are trying to make the most profit possible as Thursday’s trading session kicks in. You should see what out there for you too.
The EUR/USD pair was trading higher not so long ago. However, it is weaker at the moment by 0.2% at $1.3109. The euro has also made declines versus the Aussie and the pound sterling. There is a lot of instability for the European single currency currently. This is despite there being bullishness earlier on. Investors are trying to work out which currency will give them the highest returns this Thursday. Much will be dependent on market sentiment today.
The yen is stronger today versus the dollar following the weak housing data earlier in the morning. The USD/JPY pair is lower at the moment by 0.11% at 92.12 yen. The yen has still slid versus its other main peers following the appointment of Kuroda as the new Bank of Japan. This sent optimism into Japanese stocks and weakness into the Japanese yen. This is because it is expected that there will be a lot more stimulus for the nation.
The Asian stocks have rallied this month. They have made it the best month in 5. Japan’s Nikkei 225 Stock Average has recorded the best month since September. This comes as Japan’s Prime Minister Shinzo Abe appointed a new central bank governor.
The MSCI Asia pacific Index surged 1.4% to 135.07. Japan’s Nikkei 225 Stock Average gained 2.7%. South Korea’s Kospi Index added 1.1%. Australia’s S&P/ASX 200 Index rose 1.35. South Korea’s Kospi Index added 1.1%. Australia’s S&P/ASX 200 advanced 1.3%. New Zealand’s NZX 50 added 1%. Hong Kong’s Hang Seng Index gained 1.5%. China’s Shanghai Composite Index soared notably.
Toyota Motor Corp. gained 3.5% to 4,765 yen. There were also gains capped for a number of leading Asian stocks earlier this morning due to the return of optimism into the financial markets. This came as no surprise after U.S. stocks jumped during yesterday’s trading session.
There were some important gains made by crude oil yesterday.
Traders decided to buy into the crude oil yesterday. It is true that there are negative factors putting downward pressure on the commodity.
This included a rise in inventories. In addition, the rise in U.S. supplies has also helped push crude prices lower recently. Crude oil was supported on Wednesday by positive U.S. housing data.
There has been a lot of optimistic U.S. data in the past few trading days, which has given oil prices some support. The commodity was higher a few hours ago.
However, the black gold is lower right now by 26 cents at the $92.50 level. Investors just feel that now is the time to stat selling crude oil futures, as they are somewhat overvalued. U.S. data will be crucial in during the commodity today.
The GBP/USD is trading higher today by 0.2% at $1.5180. The pair has been rising since the commencement of today’s trading session. It is true that there has been a lot of bearishness for the pair lately. However, this has not deterred traders. They have become more confident due to there being lots of positive global data in recent days.