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Australian Binary Options Markets Rebound

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Australian binary options markets have rebounded today after the wreckage Cyprus caused yesterday. Markets are hopeful that the Cyprus bailout is a one-off event and won’t spread to other European nations. The size of the bailout is relatively small at only 10 billion euros. The worry is that countries like Spain, Portugal or Italy will be next to face tough measures. Depositors in Cyprus lined up at ATMs over the weekend trying to pull out as much cash as possible before the deposit levy went into effect. In all likelihood, Cyprus is an isolated incident.

Australian Binary Options Traders Saw Panic Then Calm

Markets across the board began selling off quite aggressively to begin the new week in Asia. Australian binary options traders saw many traders selling in a panic and dumping positions. However, the US market saw buyers step in thinking that the selling was overdone. The Dow Jones Industrial Average closed down only 62 points to 14452 and the S&P 500 Index closed down 8 to 1552.

Volume Remains Light For Australian Binary Options Traders

Volume across Asia is very light as Australian binary options traders await more clarity from Europe. The huge swings in price yesterday has many traders on the sidelines. Markets are rebounded the strongest in Japan with the Nikkei 225 up 218 points to 12,458. Australia’s ASX 200  broke the key 5000 level and is down 28 points to close at 4987.40 in binary options trading.

Australian Binary Options See Japanese Yen Weakness Resuming

The Japanese yen regained its bear trading pattern after trading stronger the past few days. The Cyprus bailout had traders dumping their positions and the yen is a safe haven in crisis. The leadership change at the Bank of Japan begins tomorrow and most economists are expecting significant monetary easing measures from the BOJ. Markets are anticipating further yen weakness once monetary easing begins. Australian binary options traders should pay attention to any verbal comments made by new BOJ Governor Haruhiko Kuroda before the Bank of Japan meets on April 3-4.

Kiwi Weakness Seen For Australian Binary Options Trading

The New Zealand dollar is being talked down by officials in New Zealand. Finance Minister Bill English told Bloomberg News that the kiwi is overvalued and that it will correct further as the US economy strengthens. New Zealand officials want to weaken the nation’s currency to help strengthen their exporters. Australian binary options traders should look for possible interest rate cuts from the Reserve Bank of New Zealand.

RBA Minutes Release Guide Australian Binary Options

The Reserve Bank of Australia released the minutes from their last meeting today that showed members see the Australian economy strengthening. Deputy Governor Philip Lowe also defended the nation’s stronger exchange rate and that the nation has not been impacted by rising inflation. Australian binary options traders should be in a hold pattern in terms of the Aussie dollar. Outside markets will drive the currency’s direction.

Australian Binary Options Economic Data Calendar

All Times GMT

  • 0930 UK Core CPI (YoY) 2.2% forecast 2.3% prev (GBP)
  • 0930 UK CPI (YoY) 2.8% forecast 2.7% prev (GBP)
  • 0930 UK CPI (MoM) 0.7% forecast -0.5% prev (GBP)
  • 1000 Euro ZEW Economic Sentiment 43.7 forecast 42.4 prev (EUR)
  • 1000 German ZEW Economic Sentiment 48.0 forecast 48.2 prev (EUR)
  • 1230 US Building Permits 0.925M forecast 0.904M prev (USD)
  • 1230 US Housing Starts 0.915M forecast 0.890M prev (USD)
  • 1230 Canadian Manufacturing Sales (MoM) 1.00% forecast -3.10% prev (CAD)
  • 1230 Canadian Wholesale Sales (MoM) 0.4% forecast -0.9% prev (CAD)
  • 2145 New Zealand Current Account -3.00B forecast -4.42B prev (NZD)

The main data points for today are inflation data for the UK, economic sentiment in Germany and Europe, and housing data in the US. As always good luck to all Australian binary options traders and be sure to check back for the latest updates!