Tuesday Binary Options Market Update 11/27/2012

Binary options on Australia stocks are higher today after vaccine-maker CSL posted stronger full-year profit guidance.  The ASX200 was last up 28.1 points to 4452.30.  CSL shares were up $3.54 to $50.32.

The Australian dollar binary option touched its highest level in two months as euro-area finance ministers reached agreements on Greece’s debt burden and its funding gap after more than 12 hours of discussions.

The so-called Aussie advanced versus most of its 16 major counterparts as officials cut the indebted nation’s interest rates and gave it more time to pay back rescue loans.  New Zealand’s currency, known as the kiwi, snapped a decline from yesterday as a fifth day of gains in Asian stocks outweighed a report today that showed the nation’s annual trade deficit widened to the most in more than three years.

Australia’s dollar rose 0.1 percent to $1.0478 at 2:20 p.m. in Sydney after earlier touching $1.0490, the highest since Sept. 21. It was little changed at 85.93 yen. New Zealand’s currency binary option traded at 82.24 U.S. cents, 0.1 percent above its close at 82.18 in New York. It bought 67.44 yen from 67.45.

Binary options on crude oil futures advanced as much as 0.4 percent in New York after slipping 0.6 percent yesterday. Ministers agreed to help Greece manage its debt burden in talks in Brussels that lasted more than 12 hours, a European Union official said. It was the fourth round of discussions by ministers on the Greek crisis in two weeks. U.S. crude inventories probably rose 500,000 barrels last week, according to a Bloomberg News survey of analysts before an Energy Department report tomorrow.

Brent binary options for January settlement advanced 20 cents to $111.12 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract was at a premium of $23.11 to West Texas Intermediate, compared with $23.18 yesterday.

Spot gold binary options advanced as much as 0.2 percent to $1,751.80 an ounce and traded at $1,749.80 at 12:12 p.m. in Singapore. The metal reached $1,754.65 on Nov. 23, the most expensive since Oct. 15. Holdings in ETPs expanded to 2,606.974 metric tons yesterday, data compiled by Bloomberg show. Cash silver binary options rose as much as 0.4 percent to $34.285 an ounce, the highest level since Oct. 11.

Gold for December delivery was little changed at $1,749.80 an ounce on the Comex in New York. Cash silver was at $34.175 an ounce. Spot platinum was little changed at $1,613.50 an ounce, and palladium gained 0.2 percent to $665.25 an ounce.

Soybeans climbed to the highest level in two weeks on concern that planting delays in South America may curb production. Wheat advanced on the worst U.S. winter-wheat conditions in at least 27 years.

In the binary options market for grains, soybeans for January delivery gained as much as 1.1 percent to $14.405 a bushel on the Chicago Board of Trade, the highest price for a most-active contract since Nov. 12, and traded at $14.375 at 12:16 p.m. in Singapore. Prices are set to climb for a third day, the best streak since the period to Nov. 1.

In Brazil, 74 percent of the soybean crop was planted, from 81 percent a year earlier, researcher Celeres said yesterday. About 37 percent of Argentine soybeans were sown, from 47 percent, the Buenos Aires Cereals Exchange said Nov. 22. Soybeans surged to a record in September after the worst U.S. drought in half a century parched fields. Brazil, the U.S. and Argentina are forecast to be three largest soybean growers this year, according to the U.S. Department of Agriculture.

In the U.S., winter-wheat conditions declined and were the worst since 1985, the USDA said yesterday, as dry, cold weather slowed germination and early plant growth. An estimated 33 percent of the crop was rated good or excellent as of Nov. 25, from 34 percent last week and 52 percent a year earlier.

Wheat options for March delivery rose as much as 0.6 percent to $8.6875 a bushel and was at $8.68. The price reached $8.69 yesterday, the highest since Nov. 15. Corn for March delivery advanced 0.4 percent to $7.5425 a bushel.

Japanese stocks swung between gains and losses as euro-zone finance ministers reached an agreement on Greece’s debt burden and after technical indicators showed gains on the Nikkei 225 Stock Average may have been excessive.

The Nikkei 225 was little changed at 9,392.30 as of 12:53 p.m. in Tokyo after rising as much as 0.7 percent and dropping as much as 0.2 percent. The broader Topix was little changed at 779.66, with about nine stocks rising for every six that fell.

The Nikkei 225 gained 8.4 percent through yesterday from Nov. 14, when Prime Minister Noda called for a Dec. 16 election, triggering speculation the opposition may win and call for more monetary easing. Gains were limited as the 14-day relative strength index for the Nikkei 225 rose to 71 today, above the 70 threshold that some traders say signals a drop.

Binary options on Chinese stocks fell, dragging the benchmark index below the 2,000 level, after the value of shares traded slumped to the lowest in four years. Industrial companies and property developers led losses.

The Shanghai Composite Index dropped 1 percent to 1,998.20 at the 11:30 a.m. local-time break, heading for its lowest close since Jan. 23, 2009. Shares worth 33.1 billion yuan changed hands in the measure yesterday, the least since Nov. 7, 2008.

The Shanghai Composite is heading for a third straight annual loss after declining 9.2 percent this year. The gauge has plunged 42 percent through yesterday since Aug. 4, 2009, when the gauge reached its highest level since the global financial crisis. The MSCI All-Country World Index has rallied 21 percent in the same time.

The gauge breached 2,000 for less than two minutes during trading on Sept. 26 before rising 4.1 percent in the two days that followed. The Shanghai Securities News reported Sept. 27 there was speculation the China Securities Regulatory Commission would announce measures to boost stocks.

Australian binary options traders need to pay attention to the weakness in China stocks.  Weakness there will eventually hit the Australian market.  As always, good luck and be sure to check back for the latest binary market update!