Asian Stocks Dive on Weak Chinese Manufacturing Data
The dollar is trading in a mixed fashion this morning following the gains which it made in previous trading sessions. On one hand, it has made inroads into the sterling. On the other hand, the greenback has tumbled versus bitcoin. The GBP/USD forex binary option is trading lower this Thursday morning by 0.05 percent at the $1.6587 level. The EUR/USD pair is up by about 0.2 percent at the rate of $1.3260. it is important to take into account the dollar surged to an 11-month high versus the euro, as traders increased bets that interest rates in the U.S. will be rates in 2015. Therefore, the dollar could always jump during today’s trading session.
Bitcoin was very weak during the early part of the current trading weak. This was really the case for the majority of cryptocurrencies. The good news is that it has been able to make a comeback in the most recent trading. Investors really feel that it is worth it for them to go long on bitcoin, as it is still somewhat undervalued. The BTC/USD pair is trading higher as of now by 2.16 percent at the $510.80 level. Look for there to be more gains for the pair in the hours ahead.
There is a lot of weakness when speaking of the Aussie in the most recent trading. The AUD/USD forex binary option is trading lower this morning by 0.25 percent at the 92.63 U.S. cents level. The weakness for the pair comes as traders simply do not feel that it is worth it for them to put their money into the Aussie at the moment. Therefore, look to ditch the AUD/USD once you get a free chance in the coming hours of trading today.
It was unfortunate to see that Asian stocks took a big hit during early morning trading. What real pushed them much lower was the bearish manufacturing data that was published from the Chinese economy. There are renewed fears about the state of the world’s second largest economy, which has put much negative pressure on regional stocks as of late. This means that traders will want to be very cautious while trading Asian stocks if they want to make maximum returns from the financial markets.
Japan’s Topix Index actually added 0.9 percent. The MSCI Asia Pacific Index excluding Japan dived 0.8 percent. South Korea’s Kospi Index fell 1.4 percent. Indexes in Australia and New Zealand climbed moderately.
The crude oil binary option made losses of 0.32 percent to $93.16. The weakness for the commodity comes this morning as Chinese manufacturing missed estimates. The news that the U.S. will continue to take action against radical Islamists in Iraq has pushed the black gold much lower this morning. Therefore, you may want to look into opening daily Put options in the commodity.
Gold futures have tumbled this morning by $13.80 to $1,281.40. This comes as investors have taken their money out of nearly all commodities this morning and put their funds into alternative assets. This comes on the forecast that the Fed will raise interest rates early next year. Therefore, you should take this into account if you intend to trade gold futures in the next few trading days.
The EUR/USD currency pair is trading higher this morning after losing a lot of value in previous trading sessions. With more gains for the pair on the cards, opening daily Call options is where the profit is at.