Binary Options Update 12/7/2012

Binary call options on Australian stocks are rallying today ahead of the monthly US payroll report. The ASX 200 was last up 43.6 points to 4552.90 as mining and banking stocks lead the rally. This has been a great week for Australian stocks and the binary options market.

Mining giant BHP Billiton was up 30 cents to $34.71. Rio Tinto rallied 41 cents to $60.33. Among the 4 big banks, ANZ advanced 20 cents to $24.92, CBA had risen 58 cents to $60.94, NAB was 25 cents higher at $24.50 and Westpac had advanced 24 cents to $25.71.

Other Asian Markets Rally

Binary options on Asian stocks climbed, with the regional benchmark index heading for its longest streak of weekly gains in three months, as fewer Americans filed applications for unemployment benefits and Australia’s building industry shrank at a slower pace.

The MSCI Asia Pacific Index rose 0.3 percent to 126.13 as of 10:30 a.m. Tokyo time, with almost five shares rising for every three that fell. The measure is heading for a seventh daily gain and its third week of advance, the longest winning streak since the period ended Aug 17. Signs of recovery in the world’s two largest economies and optimism U.S. lawmakers will agree on a budget deal to avert the so-called fiscal cliff have been boosting Asian equities.

South Korea’s Kospi Index rose 0.5 percent, while Japan’s Nikkei 225 Stock Average added 0.2 percent. Hong Kong’s Hang Seng Index increased 0.2 percent, while China’s Shanghai Composite Index climbed 0.3 percent.

Binary Options on Australian Dollar Set For Weekly Gain

Australia’s dollar was set for a five-day advance before Chinese data next week that may show the world’s second-largest economy is picking up.

The so-called Aussie was near a two-month high after a private report showed the nation’s construction industry contracted at a slower pace. Demand for the currency was also supported after Australia’s trade deficit widened less than economists predicted in October as exports withstood a slower global economy and capital goods purchases increased.

Australia’s currency traded at $1.0480 as of 1:20 p.m. in Sydney after rising 0.3 percent to $1.0486 in New York when it reached $1.0516, the highest since Sept 21. The New Zealand dollar, nicknamed the kiwi, bought 83.20 U.S. cents from 83.27. The Aussie has risen 0.5 percent this week, while the kiwi has advanced 1.4 percent.

China’s industrial production probably rose 9.8 percent in November from a year earlier, the fastest pace since March, according to the median estimate of economists surveyed by Bloomberg News. Retail sales are forecast to have increased 14.6 percent last month, compared with a 14.5 percent gain in October. The National Bureau of Statistics is due to release the figures on Dec. 9.

Binary Option On Oil Near 3-Week Low As Market Range-Bound

Binary options on crude oil traded near the lowest price in three weeks in New York after the European Central Bank cut its forecast for euro-area economic growth and U.S. lawmakers struggled to agree on a budget plan.

Futures were little changed after sliding 1.8 percent yesterday, the biggest decline in more than two weeks. The euro area will probably contract 0.5 percent this year, more than the September forecast of 0.4 percent, the ECB said. U.S. President Barack Obama warned lawmakers that the economy will suffer unless there’s an agreement on a way to avert more than $600 billion in automatic spending cuts and tax increases known as the fiscal cliff. Oil is poised for its first weekly decline in more than a month.

Crude for January delivery was at $86.46 a barrel, up 20 cents, in electronic trading on the New York Mercantile Exchange at 12:51 p.m. Sydney time. The contract slid $1.62 yesterday to $86.26, the lowest close since Nov. 15. Prices are down 2.8 percent this week and 13 percent this year.

Brent for January settlement rose 8 cents to $107.11 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract was at a premium of $20.62 to West Texas Intermediate. It closed at $20.77 yesterday, the narrowest gap since Oct. 19.

Copper Binary Options Set For 4th Weekly Gain

Copper gained, set for a fourth weekly advance in the best run since February, on prospects for increased demand in China and U.S., the world’s two largest consumers of the metal used in pipes and wires.

Metal for delivery in three months climbed as much as 0.2 percent to $8,018.50 a metric ton on the London Metal Exchange and was at $8,015 at 11:06 a.m. in Shanghai. The price has climbed 5.5 percent this year, touching $8,089 yesterday, the highest level since Oct. 19.

China’s statistics bureau is set to release industrial output data for November on Dec. 9, with economists expecting a 9.8 percent rise from a year ago, from 9.6 percent in October. In the U.S., jobless claims fell 25,000 to 370,000 in the week to Dec. 1, according to data yesterday. The median forecast of 52 economists surveyed by Bloomberg called for a drop to 380,000.

Copper has rallied even amid the European debt crisis. The European Central Bank cut its growth forecasts for the region yesterday as President Mario Draghi said the euro area won’t start to shake off its slump until the second half of 2013.

As always good luck trading and be sure to check back for the latest updates!