Asian Stocks Slide with U.S. Equities
The U.S. dollar is trading in a mixed fashion following the surge in bitcoin prices both this morning and yesterday. The BTC/USD pair is trading higher as of now by a whopping 6.45 percent at the $446.16 level. The EUR/USD pair has made gains of 0.07 percent to $1.2447. The dollar has slumped versus the Swiss franc in the latest round of trading. here was downbeat data that was published from Asia in early morning trading, which has led to much unexpected behavior in the forex market. The economic releases from the U.S. today will be key in determining which way the dollar will end up trading in the hours ahead.
There is a good amount of weakness when speaking of the sterling this Thursday morning. The GBP/USD pair is lower at the moment by about 0.4 percent at the $1.5742 level. Traders feel that they should sell the sterling and put their money into alternative assets as the British economic recovery is not as strong as previously thought. This means it may be best to open daily Put options when speaking of the GBP/USD forex binary option.
One of the weakest currencies at the moment is the Japanese yen. It has been trading lower since the commencement of this morning’s trading session. Traders just have not been in the mood to take risks with this currency, as there is so much instability when speaking of the nation’s economy at the moment. In addition, the BOE has continued to go ahead with some very aggressive stimulus measures which will continue to hut the yen in the days, weeks and months ahead.
We saw the majority of U.S. stocks go lower during yesterday’s trading session. However, the losses were not dramatic, but do show not to be overly confident when it comes to American equities. The thing is this helped lead to a drop in Asian equities earlier this morning. This was the first slide in the region’s equities in five days.
One of the reasons for the fall in both Asian and U.S. equities in the past 24 hours was that they were oversold, leading traders to take out a lot of their profits. In addition, the yen made inroads into the greenback yesterday, while the S&P 500 Index slumped from a record high.
The crude oil binary option is trading lower this morning by 12 cents at the $77.06 level. The commodity has been very bearish in recent weeks, trading much lower than its one week high. The Saudis are not in the mood to cut supply, which could lead to additional downward pressure on the black gold. Therefore, look to go short today in order to make maximum returns as the end of week nears.
We are seeing gold get hit once again as it slides by about $3 in the latest round of trading. With there being a lack of confidence with regards to metals at the moment, the losses we are seeing for the gold binary option is not a surprise. The economic data released from the news wires today will be pivotal in determining how much lower the commodity will go. This means you may want to stay in the sidelines.
Crude oil has been one of the most volatile commodities in recent trading sessions. Investors have been in favor of going short due to the high supply. Look to ditch crude in the hours ahead in order to make maximum returns.