Cyprus Sinks Australian Binary Options
Australian binary options are getting hammered to start the new trading week after Cyprus was bailed out. A 10% deposit tax will be enacted on all bank deposits over 100,000 euros. Investors are worried about spillover effects in the European region. Traders are selling assets and raising cash as market worries linger. Stocks in Australia, Japan and Hong Kong all dropped over 2 percent to end their trading session. Markets are also jittery after China enacted tougher property curbs to quell property prices. Australian binary options traders should use a risk-off approach to trading in the short-term.
Australian Binary Options On ASX 200 Drop
The ASX 200 falls 104 points to close at 5015.40 as markets across Asia drop to start the new trading week. The major sectors in Australian binary options share trading were all weaker. Among the Australian binary options mining stocks, BHP Billiton lost 65.5 cents to close at $34.895, Rio Tinto dropped $1.23 to $60.07 and Fortescue fell 12 cents to $3.94. Among the big banks, National Australia Bank lost 60 cents to $30.70, Westpac fell 38 cents to $30.51, Commonwealth Bank dropped 63 cents to $69.55 and ANZ fell 35 cents to $28.37.
Yen Strengthens For Australian Binary Options Traders
The yen is strengthening across the board as investors take risk off the table. The yen jumped against the euro and stocks on the Nikkei 225 dropped the most in almost a month. The yen also strengthened against the US dollar and its other major trading peers. Japanese exporters such as Toyota and Honda were hit the hardest in Australian binary options trading.
In Australian binary options trading for Japanese assets, the Nikkei 225 lost 304 points to 12,256.90. The euro is trading at 121.747 yen and the dollar is at 94.489 yen.
Australian Binary Options Go Risk Off In Forex Trading
The euro is dropping against all its major peers today as the market worries about contagion in the euro zone. The upheaval in Cyprus risks spreading to other euro zone countries. Over the weekend, citizens of Cyprus lined up at ATM machines to withdraw cash. For Australian binary options traders looking at the EUR/USD pair, the 200-day moving average is $1.2873. This is a critical support level for this euro pair. The pair is currently trading just above this level at $1.2885.
Australian Binary Options Traders Sell Commodities
Commodities are dropping across the board with other risk-on assets. Oil to copper sold off aggressively on the Cyprus news. The US dollar is rising aggressively and that’s having a negative effect on the price of commodities.
WTI is trading at $92.77, Brent at $108.40, gold at $1595.70, silver at $28.655, and copper at $3.4380.
Australian Binary Options Economic Data Calendar
There is really no data to speak of worth paying attention to today. Australian binary options traders need to monitor Europe closely. Cyprus and any spillover effects will drive market direction. For now, the trend is lower and do not attempt a contrarian play. I think the selling pressure can last several days unless something develops to calm the markets. If that occurs, look for a very strong bounce.
As always good luck to all Australian binary options traders and be sure to check back for the latest updates!
