Australian Binary Options News

Cyprus Rejecting Bailout Rattles Australian Binary Options

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Cyprus yesterday rejected bailout terms dictated by Germany and that has markets on edge. Australian binary options traders continue to see strength in the US dollar as markets go into risk off mode. Gold has found a safe haven bid as investors seek investment alternatives in light of uncertainty in Europe. Even with Europe facing renewed problems, traders have been using any selloff in stocks as a buying opportunity. There is a decidedly buy the dip mentality in global stock markets.

Iron Ore Price Outlook Bearish For Australian Binary Options

Goldman Sachs issued an extremely bearish assessment for iron ore prices in its latest report. The bank said that it see prices falling to as low as $US80 per tonne from $US139 this year. That report has heavily impacted trading in Australian binary options mining stocks as Goldman also downgraded the stocks of BHP Billiton and Rio Tinto. In Australian binary options trading, BHP is down 96 cents to $33.59, Rio Tinto lower by $1.91 to $56.75, and the other major miner Fortescue dropping 17 cents to $3.72. Overall the ASX 200 is down about 20 points to 4967.30.

Bullish China Calls For Australian Binary Options Traders

Several bullish calls are coming out regarding Chinese and Hong Kong stocks. Tom DeMark of Market Studies LLC says that the Shanghai Composite will rise 28 percent from now until September. Morgan Stanley issued a report that said Hong Kong’s Hang Seng Index will reach 50,000 by 2015. In the short term, Australian binary options traders are awaiting PMI data tomorrow. The Hang Seng is higher by 192.51 to 22,234.37 and the Shanghai Composite Index is up 47.37 to 2,307.57. A 28 percent rise in the Shanghai Composite would put it at 2,900.

Euro Weakness In Australian Binary Options Trading

The euro continues to trade weak against its major peers. I talked about the support levels in the euro and the 200-day moving average 1.2873 in the EUR/USD pair.  This is a critical level that the bulls must defend or a move to the 1.26 level is next.

Until terms of the Cyprus bailout remain unresolved, look for the uncertainty to continue to pressure the euro weaker. The ECB Governing Council is meeting today and traders will look for the headlines out of that meeting to see if they take any action regarding Cyprus. European leaders are determining the next course of action and how much more pressure they want to put on Cyprus.

Australian Binary Options Traders Await FOMC Statement

Australian binary options traders investing in gold are awaiting the results of the US Federal Reserve’s 2 day policy meeting. Gold traded as low as $1550 this year over concern that the Central Bank may curtail its bond buying program. Gold has rebounded recently on the uncertainty in Europe. Gold is currently trading at $1611 and hit a 1-month high of $1615 yesterday. Fed Chairman Ben Bernanke has publicly stated that he will continue with the Fed’s $85 billion monthly bond purchases.

Australian Binary Options Economic Data Calendar

All Times GMT

  • 0700 German PPI (MoM) 0.2% forecast 0.8% prev (EUR)
  • 0700 German PPI (YoY) 1.5% forecast 1.7% prev (EUR)
  • 0900 Euro Current Account 7.9B forecast 13.9B prev (EUR)
  • 0930 UK Average Earnings Index 1.5% forecast 1.4% prev (GBP)
  • 0930 UK Claimant Count Change -5.0K forecast -12.5K prev (GBP)
  • 0930 UK MPC Meeting Minutes (GBP)
  • 0930 UK Unemployment Rate 7.8% forecast 7.8% prev (GBP)
  • 1000 Swiss ZEW Expectations 5.0 forecast 10.0 prev (CHF)
  • 1030 German 10-Year Bund Auction 1.660% prev (EUR)
  • 1430 US Crude Oil Inventories 2.017M forecast 2.642M prev (Crude Oil)
  • 1430 US Gasoline Inventories -2.125M forecast -3.571M prev (Crude Oil)
  • 1500 Euro Consumer Confidence -23.3 forecast -23.6 prev (EUR)
  • 1800 US FOMC Decision 
  • 1830 Fed Chairman Bernanke Speaks
  • 2145 New Zealand GDP (QoQ) 0.9% forecast 0.2% prev (NZD)
  • 2350 Japanese Trade Balance -1.01T forecast -0.68T prev (JPY)

The top item for Australian binary options traders will be the FOMC decision and the question and answer session with Fed Chairman Bernanke. This event will drive gold prices and determine US dollar strength or weakness. As always good luck to all Australian binary options traders today. Be sure to check back for the latest updates!