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Kiwi Lower In Australian Binary Options Trading

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The Reserve Bank of New Zealand’s policy meeting has weakened the kiwi against its major peers in Australian binary options trading. Reserve Bank Governor Graeme Wheeler said that the New Zealand dollar is overvalued and that he expects to keep interest rates where they are for the rest of the year. He said that the country’s drought is affecting economic activity in the nation. Markets were not expecting his comments to be so dovish and raise the prospect for possible interest rate cuts. That’s a scenario that most analysts were not considering.

Australian Binary Option Calls Rise On Aussie Dollar

The Aussie dollar is stronger today against all its major trading peers in Australian binary options trading. Australia’s jobless rate stayed at 5.4% in February as total employment was up 71,500. Markets had been expecting employment to rise by only 8,000. This data is helping boost the Aussie dollar across the board.

Australian binary options traders should look for the Aussie dollar to continue to strengthen against the kiwi. The RBNZ looks to weaken the kiwi and Australia’s economy is starting to recover. The economic data in Australia has improved dramatically recently. Just a few weeks ago we were talking about New Zealand strength and Australia weakness. Now it’s reversed as Australia’s economy strengthens and New Zealand’s weakens.

In Australian binary options trading, the AUD/JPY is at 99.437, the AUD/NZD at 1.26532, and the AUD/USD at 1.03662.

Australia Shares Drop On Weakness In China

Chinese stocks are dropping again and that’s dragging shares lower in Australian binary options trading. The ASX 200 is down 16.3 points to 5076.10 as the Shanghai Composite is down 22.64 points to 2,263.97 and Hong Kong’s Hang Seng is down 333.95 to 22,556.65.

Chinese stocks are at a two-month low on expectations that China will implement stricter property curbs to tighten the overheating property market. Possible tighter property curbs is making traders nervous and they are selling Chinese stocks. Traders are also worried about inflation in China and the weaker economic readings that have recently been posted. China is Australia’s number one export market.

US Dollar In Bull Run For Australian Binary Options Traders

The US dollar continues its bullish trend as the US economy continues to defy expectations. The US dollar is at a 3-month high against the euro after retail sales came in better than expected. Right now economists are seeing recovery in the US, but nowhere else. Like I said yesterday, the US dollar is currently trading as a growth currency rather than a reserve currency.  I advise Australian binary options traders to continue to play US dollar long. US dollar strength looks set to continue as long as the US economy continues to improve like it has. We could be seeing a long-term trend change after years of US dollar weakness.

WTI Gains On Brent For Australian Binary Options Traders

WTI tightened the spread with Brent yesterday. Brent dropped $1.13 to $108.52 and WTI dropped just 18 cents to $92.34. Oil supplies in the US rose and the IEA trimmed global demand forecasts. Weaker global demand will likely bring Brent prices down faster than WTI. Brent has more room to fall on a comparative basis.

Australian Binary Options Economic Data Calendar

All Times GMT

  • 0430 Japan Industrial Production (MoM) 1.0% forecast 1.0% prev (JPY)
  • 0830 Swiss Interest Rate Decision 0.00% forecast 0.00% prev (CHF)
  • 0900 ECB Monthly Report (EUR)
  • 1000 Euro Employment Change (QoQ) -0.1% forecast -0.2% prev (EUR)
  • 1230 US Core CPI (MoM) 0.2% forecast 0.2% prev (USD)
  • 1230 US Current Account -112.8B forecast -107.5B prev (USD)
  • 1230 US PPI (MoM) 0.7% forecast 0.2% prev (USD)
  • 1230 US Initial Jobless Claims 350K forecast 340K prev (USD)
  • 1230 US Core PPI (YoY) 1.7% forecast 1.8% prev (USD)
  • 1230 US PPI (YoY) 1.7% forecast 1.4% prev (USD)
  • 1700 US 30-Year Bond Auction 3.180% prev (USD)
  • 2130 Business NZ PMI 55.2 prev (NZD)

As always good luck to all Australian binary options traders. Be sure to check back for the latest updates!