Daily News | Nikkei growing on upbeat earnings

Welcome again to another week of exciting global binary options trading! There are plenty of indicators that could influence the currency market this Tuesday, but, as always, we have focused on the most lucrative ones with the most potential. Today, we start with the Japanese yen. From Friday to Monday, the currency fell from $0.00897 to $0.00894. This happened at the same time as Asian stocks rose yesterday, with Japan outperforming on upbeat earnings. The Nikkei .N225 rose 0.4%, with high-tech blue chips being the strongest earners. In fact, Asian markets were unfazed by China’s official manufacturing survey on Sunday, which indicated that growth in their factories stopped. We will continue to look into Nikkei in the days to come, but let us move look at the euro now. In the same timeframe, the currency rose from $1.0895 to $1.0899. The currency was underpinned by solid European inflation data. This inflation could prompt the European Central Bank to have a more hawkish sentiment in its statements in June. Estimates of the Eurozone inflation are hovering around 1.9% in the first quarter, which was above estimates of 1.8%. The short positioning of the currency eased following the first round of French elections. We will continue to monitor the markets, so be sure to stick with us!

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Author: Max Rothstein

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