Binary Options Daily Analysis: U.S. and Asian Stocks Rally this Morning
The dollar has been trading much higher in the latest round of trading. It is that the stock market surge both in Asia this morning and in the U.S. yesterday has turned out to lend the dollar a helping hand. The dollar is trading higher versus the Swiss franc and the British pound. It is lower versus the Aussie, as the pair has been oversold recently. The dollar could lose ground if there turns out to be a lot more positive economic data in the latter hours of trading.
There is a lot of weakness for the euro these days, but signs are starting to show that the EUR is making a comeback. This is as the euro was somewhat oversold in previous trading sessions. The fact is that there is a good amount of confidence in the forex market today. This could give the euro a big boost later on this Friday.
We can see that the yen has been in very low demand lately. The biggest factors driving the Japanese currency today is the rally which we saw during the Asian trading session. The bullishness in global stocks has hit the haven yen. In addition, traders are of the view that there could be some very big losses in the near future, so get prepared for this by going short on the yen.
It was good to see that U.S. stocks gained yesterday and Asians stocks surged this morning. The renewed risk appetite in the markets is a great sign. There has been a resurgence in risk appetite as of late due to traders feeling that it is worth it for them to take some risks.
The reality is that there are a decent number of factors backing global stocks, so more gains may lay ahead.
The crude oil binary option has been very bullish in previous trading days. Traders decided to go long on the black gold after the ousting of Morsi from power in Egypt and due to the going civil war in Egypt. In addition, supplies fell to their lowest level this year in the U.S. Therefore, this is enough to show us why the commodity has been so bullish this week.
On the other hand, there is a lot of pessimism in the commodities market today. This is not what analysts forecasted, but is what they feared. The gains in previous trading sessions may have been exaggerated. Therefore, gold is trading lower by more than $10 this morning. There is the possibility that crude oil futures will continue falling in this Friday’s trading session.