Australian Binary Options News

Australian Binary Options Drop

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Australian binary options on stocks and the Aussie dollar dropped after the recent bull run. Most analysts see this as mere profit taking and not a trend change. Stocks in Australia, China and Japan all fell today. The Japanese yen strengthened slightly as traders booked profits. The yen has been getting pummeled against all its major trading peers. US stocks continue to make gains for Australian binary options traders. Apple rallied on speculation that it will return cash to shareholders soon.

Asian Stocks Drop For Australian Binary Options Traders

Markets across Asia sold off today for Australian binary options traders. Asian stocks reached a 19-month high yesterday led by Japan. Japanese stocks have been rallying on hopes that the incoming BOJ Governor can end deflation and revive Japan’s economy. The yen has weakened as markets price in monetary stimulus.

Australian binary options traders owning puts made money as the Nikkei 225 dropped 34.24 to 12,314.81, Hong Kong’s Hang Seng fell 200.22 to 22,890.60 and Australia’s ASX 200 lost 29.04 to close at 5,117.87.

Yen Still Near Multi-Year Lows For Australian Binary Options Traders

The yen is still near its lowest levels against all its major trading peers. Incoming BOJ Governor Haruhiko Kuroda signalled yesterday his willingness to enact monetary stimulus before the April 4 meeting. That readiness to act increased the resolve to press the yen lower from the bears.

Among the major yen trading pairs, the AUD/JPY is at 98.989, the GBP/JPY at 143.322, the EUR/JPY at 125.079 and the USD/JPY at 96.152.

Australian Dollar Looks Set To Strengthen In Binary Options Trading

The Australian economy will likely rebound from its recent weakness and that will likely strengthen the Aussie dollar going forward for binary options traders. Today’s business confidence index for February from National Australian Bank came in better than expected. Home loans in Australia probably rose in January as previous interest rate cuts by the RBA get priced into the market.

US Dollar Continues Higher On Strong US Data

The US dollar continues its strength in forex and binary options trading. Most economists are expecting US retail sales to improve and higher consumer confidence. What we’re seeing in the markets is a possible change in the dollar status from a reserve currency to a growth currency. The US economy is performing better than most right now. That is bullish for the US dollar. The US Dollar Index is up 3 percent in 2013.

Crude Oil Drops On Bearish Supply

Crude oil in the US has rebounded the past few days, but is dropping today as traders expect crude supplies to increase in the US. West Texas Intermediate (WTI), the US benchmark, would be trading at much higher levels if so much supply wasn’t bottlenecked in the central US. WTI is currently at $91.84 versus $109.40 for the European benchmark Brent. The US is currently sitting on about 383 million barrels, not counting the Strategic Petroleum Reserve (SPR) and barrels of refined products.

Economic Data Calendar

All Times GMT

  • 0030 NAB Business Confidence 3 prev (AUD)
  • 0700 German CPI (MoM) 0.6% forecast 0.6% prev (EUR)
  • 0700 German CPI (YoY) 1.5% forecast 1.5% prev (EUR)
  • 0930 UK Industrial Production (MoM) 0.1% forecast 1.1% prev (GBP)
  • 0930 UK Manufacturing Production (MoM) 0.1% forecast 1.5% prev (GBP)
  • 0930 UK Trade Balance -9.0B forecast -8.7B prev (GBP)
  • 0930 UK Industrial Production (YoY) -1.1% forecast -2.1% prev (GBP)
  • 2330 Westpac Consumer Sentiment 7.70% prev (AUD)

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