Asian binary options markets crept higher on Thursday as dovish comments from the head of the U.S. Federal Reserve lifted Wall Street while weighing on the USD, with trade light heading into the Easter holidays.
Asian binaries markets added values for a second day after U.S. industrial production increased more than forecast in March and Federal Reserve Chair Janet Yellen said the central bank remains committed to supporting the economic recovery.
Japanese futures closed little changed after the Topix (TPX) index swung between gains and losses following yesterday’s steepest rally in two months. Textile makers rose while the yen dragged on exporters.
The Topix Textiles advanced by 1.1 % for the biggest gain among the broader gauge’s 33 industry groups. Canon Inc. climbed 1.3 percent on a report the world’s largest camera maker will post a 50 % gain in quarterly operating profit. Honda Motor Co., which gets more than 80 percent of sales overseas, lost 2.1 percent as the yen strengthened for the first time in five days.
The Nikkei 225 Stock Average is also largely unchanged today at 14,417.53. The yen gained 0.3 % to 101.96 per USD after weakening the past four days.
Most emerging market options inclined as multiple binary options investors weighed prospects for economic stimulus in China and the U.S. Hong Kong stocks rose, with the benchmark index gaining for a second day, after better-than-expected U.S. industrial production boosted optimism in the world’s largest economy.
In the meantime, binary options on Gold traded near $1,300 an ounce, set for a weekly drop, as investors weighed signs of U.S. recovery against tension in Ukraine. Assets in the largest gold – backed exchange-traded product sank the most this year. Bullion for immediate delivery traded at $1,301.55 an ounce at 2:20 p.m. in Singapore from $1,302.53 yesterday.
Disclaimer: The information in this analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.