The forex market also saw lots of ups and downs, as the week ended with weaker USD and Euro to make the binary options brokers lose confidence in these currencies.
A look at stock market
As far as the stock market is concerned, the Asian stocks slumped as several companies in Asia reported their gross earnings, which were not up to the estimated amount. This further resulted in dipping of leading shares that lost the gains they enjoyed this month. The average stocks for Japan’s Nikkei 225 slipped by 1.2, while the MSCI Asia Pacific Index also saw a decline of 1.1 per cent and finished at 121.25.
Kospi Index of South Korea and Shanghai Composite Index of China also slumped by 1.7 per cent. Taiwan’s Taiex Index also saw a drop of 1.8 per cent. Yamaha Corp. and Canon Inc. slipped by 8 per cent to end at 717 yen and 3.2 per cent to end at 2560 yen, respectively. The only company that managed to delight the binary options traders was the Macquarie Group Ltd. as it showed a hike of 3.5 per cent to finish at A$30.85.
A peek into commodities market
The crude oil, which saw a drastic decline in the past two weeks, made a comeback recently during the trading sessions. As the USD saw a decline and the news of economies from major regions turned out to be positive, the traders got some confidence to buy into the crude oil. But, the price for crude oil again dropped by 85.12 dollars, which further resulted in traders backing out from their decision, since there are not enough aspects to make this deal a lucrative one. The crude oil prices are dropping as the crude oil inventories that were released on Wednesday have increased again this trading week consecutively. Despite the positive economic data that tried to revive the strength of crude oil to some extent, crude oil still dropped as the unemployment claim data shadowed the positive aspects completely. The traders are thinking of opening their positions as another trading day drags on without any good gains.
The crude oil binary option has disappointed most traders for quite some time now. The energy has tried to bounce back from its past slump recently, but it could not manage to push the prices up to the reach the estimated level. The binary options trading enthusiasts are hoping that the prices of crude oil and other commodities may go down some more so that they are low enough to buy into. Due to this, most digital option traders are leaving off the commodities for the time being.