The stocks plunge
All of the Asian stocks slid to some extent after many multinational companies failed to meet their estimated earnings. It can be seen as a part of the global economic crisis with which Asian countries have largely been unaffected till now. Companies including Microsoft, Google and General Electric have failed to achieve their targeted earnings and this has led to a decline of their stock prices in the Asian markets. South Korea’s Kospi Index plunged 0.8 percent, Taiex index of Taiwan fell 0.8 percent and China’s Shanghai Composite index slumped 0.2 percent. Stock prices of Yahoo Japan slid 2.3 percent and Westpac Banking Corporation plunged 1.5 percent. Binary traders are not very pleased with the situation at these stock markets and are utterly confused about the future.
The western currencies
The dollar has remained strong throughout the trading session. Ever since the US authorities published some positive economic reports Dollar has seemed to hold strong. It is now offering safe havens for binary traders. The GBU/USD forex binary option escalated by 0.08 percent to $ 1.6056 and the AUD/USD has fallen by 0.02 percent to stop at $ 1.0364. The Euro, complying with the anticipation remained weak throughout the week. The main reason for this is the return of the Euro zone debt crisis. The lack of unanimous thinking and decision among the European Union leaders is fuelling the crisis even more. Euro incurred its biggest losses against the Pound and Dollar. The EUR/USD pair slid by 0.16 percent to arrive at $1.3046.
The Asian currencies
The Japanese Yen showed some signs of vigor after running low in the earlier part of the week. Though Yen has always been the haven currency its demand in recent times was low. However, the Yen may exhibit a short term rise once traders decide the assets to put their money on. The USD/JPY forex binary option has lowered by 0.07 percent to stop at 79.21 Yen.
The Asian nations though have managed to stay largely unaffected by the European economic crisis their stock markets are constantly feeling the heat. The rate of inflation is at all time high in some Asian countries. But the trickiest situation is for the binary traders who want to earn some profit by trading shares. The topsy-turvy situation in the market is only adding to their uncertainty. It is unclear when this uncertain situation is going to be warded off. But one thing is certain that as long as the European economic crisis prevails it is going to have ill effects on the international markets. Till then binary traders have to keep a close watch on the market, constantly analyze the market trends for a better anticipation and keep their fingers crossed.