Australian Binary Options News

Australian Employment Gets A Boost

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10,400 jobs were added in Australia for the month of January. Expectations were for only a 6,000 increase. The December jobs report was revised to reflect a 3,800 loss in payrolls compared to the previously reported figure of a 5,500 loss in jobs. The data is boosting Australian shares as the ASX 200 is up 16.5 points to 4937.50. The Aussie dollar continues to trade weak and is at 1.03152 to the US dollar and 96.395 yen. Meanwhile, the Aussie is bouncing against the kiwi at 1.23306.

Chinese And Japanese Shares Weaker Today

The Japanese yen has bounced from a 3 year low and stocks have retreated from yesterday’s highs on profit taking. Stock markets in Asia right now are slightly overbought and due for a correction in the near-term before resuming their march higher. The Shanghai Composite Index is up 24 percent since its low on December 4. The Nikkei 225 is down 133.46 to 11,330.29, the Hang Seng down 101.90 to 23.155.03, and the Shanghai Composite Index is down 31.99 to 2,402.48.

Euro Weak Ahead Of ECB Meeting And Spanish Auctions

The euro currency is weak against most of its major peers ahead of the ECB meeting and Spanish debt auctions. There are continued calls for Spanish Prime Minister Mariano Rajoy to resign. Market expectations are for rates to remain unchanged. What the market will be paying attention to is Draghi’s comments during his press conference. Will he say the economy remains weak? Will he sound optimistic or pessimistic? These factors will determine the next direction for the euro. Will it weaken further or continue on its bull run?

Spain will auction bonds due in 2015, 2018 and 2029 today. Bond yields on Spanish debt have been rising after reports surfaced that there is corruption in Prime Minister Rajoy’s party. He has enacted very tough measures to curb the nation’s budget deficit and bring down borrowing costs for the nation. The market looks at Prime Minister Rajoy as a positive for Spain and the euro zone recovery.

The euro right now is trading at 1.35112 to the US dollar, 126.280 Japanese yen and .86261 to the British pound.

Crude Oil Rises After Inventory Report

Oil rose yesterday after the US Department of Energy report showed increased fuel demand and that supplies dropped in Cushing, Oklahoma. Cushing is the delivery point for the New York futures contract and the biggest storage hub in the US. Crude oil is currently trading at $96.71, up 9 cents.

Corn Continues To Weaken On Expectations For Increased Supply

Traders have been selling off their corn positions for the past 5 days. On Friday the US Department of Agriculture will release a report updating the supply picture. Traders are worried that the report may raise estimates on corn stockpiles. An increase in supply is bearish for prices and indicates that the market is not as tight as traders feared. Corn has been on a bull run and what we’re seeing is traders lightening up their positions ahead of Friday’s report. Corn is trading at $7.2150 a bushel.

Economic Data Calendar

  • 0800 Spanish Industrial Production (YoY) -6.6% forecast -7.2% prev (Euro)
  • 0930 British Industrial Production (MoM) 0.9% forecast 0.3% prev (GBP)
  • 0930 British Trade Balance -8.9B forecast -9.2B prev (GBP)
  • 0930 British Industrial Production (YoY) -2.1% forecast -2.4% prev (GBP)
  • 1100 German Industrial Production (MoM) 0.2% forecast 0.2% prev (Euro)
  • 1200 Bank Of England Interest Rate Decision 0.50% forecast (GBP)
  • 1200 Bank Of England QE Total 375B forecast (GBP)
  • 1245 ECB Rate Decision 0.75% forecast (Euro)
  • 1300 Chicago Fed President Evans Speaks (USD)
  • 1330 Canadian Building Permits (MoM) 5.0% forecast -17.9% prev (CAD)
  • 1330 Canadian New Housing Price Index (MoM) 0.2% forecast 0.1% prev (CAD)
  • 1330 US Initial Jobless Claims 360K forecast 368K prev (USD)
  • 1330 US Unit Labor Costs (QoQ) 3.0% forecast -1.9% prev (USD)
  • 1330 US Nonfarm Productivity (QoQ) -1.3% forecast 2.9% prev (USD)
  • 1330 ECB Press Conference (EURO)
  • 1500 Britain NIESR GDP Estimate -0.3% prev (GBP)
  • 2350 Japan Adjusted Current Account 0.24T forecast 0.23T prev (JPY)
  • 2350 Japan Bank Lending (YoY) 1.2% prev (JPY)

As always, good luck to all binary and forex traders today. Pay special attention to the ECB press conference and what Mario Draghi has to say. That will move the euro currency pairs. Be sure to check back for the latest update!