Cyprus Deal Boosts Australia Binary Options
Cyprus agreed to terms on an international bailout and that’s boosting Australia binary options. Markets are recovering after last week’s selloff. Risk-on is apparently back for Australia binary options. It seems that for every crisis that comes out of Europe a solution is found one way or another. The big gains were seen in Japan again with Hong Kong and Australia lagging behind and posting small gains. US equity futures and crude oil rose as well to start the new week. Chinese stocks bucked the trend and traded lower.
Yen Weakens In Australia Binary Options Trading
The Japanese yen continued its bearish trend as the Cyprus deal boosts market confidence. The yen weakness boosted Japanese stocks in Australia binary options trading. The yen weakness has been boosting profits at Japanese exporters. From a fundamental perspective, Australia binary options on Japanese equities look cheap trading at only 1.2 times book value compared with 2.2 times for the S&P 500 Index. The Nikkei 225 is higher by 225 points to 12,546.46 and the Aussie dollar is 99.080 yen, the US dollar at 94.675 yen and the euro at 123.038 yen.
Euro Head Fake For Australia Binary Options Traders
Australia binary options traders sold the pop in the euro currency today. The euro jumped above the 1.30 level, but has since pulled back below that level. The Cyprus deal is positive for global equities, but is of concern for the euro on potential capital flight out of the euro zone. The uncertainty on where the next crisis lies will prompt money flow out of the euro zone and into other currencies and markets.
Aussie Dollar Remains Strong In Australia Binary Options
The Aussie dollar has been trading more like a reserve currency rather a growth currency. Markets anticipate that Australian banks will be unaffected by the crisis in Europe and that the country will become a safe haven for European investors. The Aussie dollar looks set to continue to make gains for Australia binary options traders. The AUD/USD pair is at 1.04678 and the AUD/NZD pair is 1.25292. I recommend Australia binary options traders to play from the long side in these 2 pairs.
Australia Binary Options On Oil Gain
Australia binary options on oil continue to make gains after a bailout was reached on Cyprus. The spread between WTI and Brent is the narrowest it’s been since July of last year. The 50-day moving average for WTI is $94.37. A close above $95 would be bullish for the market. WTI is currently trading at $94.12 and Brent at $108.24.
Australia Binary Options Traders Buying Gold And Selling Copper
Australia binary options traders boosted their wagers against copper and increased their bullish bets on gold. Copper inventories look set to expand. Currently there are over 5 months of North American demand in storage. Inventories are forecast to record their second annual surplus as new mines come online. The global recovery has not been fast enough to make a dent in supplies. Australia binary options traders meanwhile are buying gold as Europe continues to remain uncertain.
Australia Binary Options Economic Data Calendar
All Times GMT
- 0930 UK BBA Mortgage Approvals 33.6K forecast 32.3K prev (GBP)
- 1230 Chicago Fed National Activity -0.32 prev (USD)
- 1430 Dallas Fed Manufacturing Index 2.20 prev (USD)
- 1715 Fed Chairman Bernanke Speaks
- 2145 New Zealand Trade Balance 17M forecast -305M prev (NZD)
- 2350 Japan CSPI (YoY) 0.0% forecast -0.2% prev (JPY)
Australia binary options traders need to watch the headlines out of Europe regarding Cyprus and the main topic of the day will be Ben Bernanke’s speech. As always good luck to all Australia binary options traders and be sure to check back for the latest updates.
