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Another Dow Rally Boosts Australian Binary Options

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Australian binary options got another boost as the Dow Jones Industrial Average rose again to a new high after the ADP report showed employers hired last month and the Federal Reserve’s Beige Book said that the US economy is improving. The ADP report said that employers added 198,000 jobs in February. That lifted the Dow Jones higher by 42 points to close at 14296.24. The S&P 500 Index gained 1.67 to 1541.46, while the tech heavy NASDAQ Composite lost 1.76 to close at 3222.37. Binary options on Australian stocks were down earlier in the session, but recovered off the lows to close down 7.59 points at 5109.20.

Australian Binary Options On The Aussie Dollar Rebound

Australia reported that its trade deficit widened more than expected. This further added to the market’s belief that the Reserve Bank of Australian may not be cutting interest rates at their next meeting. Most analysts had been earlier in the year expecting the RBA to cut interest rates further. Analysts are now changing their tune and signaling that interest rate cuts may not be the case and that the RBA will keep rates where they are.

In the Australian binary options market, the AUD/USD is at 1.02448, the AUD/JPY at 96.216, and the AUD/NZD at 1.23764.

Economic Data Calendar For Australian Binary Options Traders

There is a lot of data for traders to digest today and that’s why I’m going to jump right into this section earlier. Most markets are in a wait and see pattern until the data is released. All times are GMT.

  • 0900 SNB Chairman Thomas Jordan Speaks
  • 0950 Spanish 10-Year Auction 5.202% prev (EUR)
  • 0950 Spanish 5-Year Auction 4.123% prev (EUR)
  • 1100 German Factory Orders (MoM) 0.5% forecast 0.8% prev (EUR)
  • 1200 BOE Interest Rate Decision (GBP)
  • 1200 BOE QE Total 375B forecast 375B prev (GBP)
  • 1245 ECB Interest Rate Decision (EUR)
  • 1330 Canadian Building Permits (MoM) 5.0% forecast -11.2% prev (CAD)
  • 1330 Canadian Trade Balance -1.0B forecast -0.9B prev (CAD)
  • 1330 US Nonfarm Productivity (QoQ) -1.6% forecast -2.0% prev (USD)
  • 1330 US Trade Balance -42.6B forecast -38.5B prev (USD)
  • 1330 US Initial Jobless Claims 355K forecast 344K prev (USD)
  • 1330 US Unit Labor Costs (QoQ) 4.3% forecast 4.5% prev (USD)
  • 1330 ECB Press Conference (EUR)
  • 1700 US Chain Store Sales (YoY) 4.5% prev (USD)
  • 2145 NZ Manufacturing Sales (QoQ) 1.6% prev (NZD)
  • 2350 Japan Adjusted Current Account 0.11T forecast 0.10T prev (JPY)
  • 2350 Japan GDP (QoQ) 0.1% forecast -0.1% prev (JPY)
  • 2350 Japan GDP Price Index (YoY) -0.6% forecast -0.6% prev (JPY)
  • 2350 Japan Bank Lending (YoY) 1.3% prev (JPY)

Interest Rate Decisions

Today we get the interest rate decisions from the Bank of England and the European Central Bank. The most critical aspect to these decisions will be what is said in the statements after the meeting. ECB President Mario Draghi has used these occasions to directly impact the value of the euro currency. All Australian binary options traders need to pay close attention and trade accordingly.

US Data

Initial jobless claims will be the data point for Australian binary options traders to watch in US trading today. Economists are expecting a pickup in claims from last week. Traders will use this data as an indicator for tomorrow’s critical non-farm employment report. Today we’ll see traders squaring their positions ahead of that report. We urge Australian binary options traders to do the same!

Japan GDP

Also we’ll get the critical Japanese GDP report. The Japanese economy contracted in the previous quarter and economists are expecting the economy to have expanded ever so slightly in the last quarter. This report will be key for Australian binary options traders trading the Nikkei 225 and Japanese yen options.

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