Euro Zone Concerns Impact Australia Binary Options
US markets sold off yesterday for Australia binary options traders as renewed concerns out of Europe offset better US economic data. Earnings misses from FedEx and Oracle also weighed on US stocks. Corporate earnings have been strong the past several quarters as most companies have beat on earnings. Traders are hopeful that FedEx and Oracle don’t set a pattern and remain one-off events. While the US data has been strong, the data out of Europe continues to be weak. Until Europe resolves its debt crisis, look for Australia binary options markets to consolidate and then push higher.
US Data Positive For Australia Binary Options
US existing home sales came in at the highest levels in more than 3 years. Most economists are seeing a steady rebound in the US housing market. That helps the US consumer and the overall economy. Jobless claims also came in better than expected. The S&P 500 Index was within 7 points of its record high, but was hit by the worries in Europe and profit taking. The Dow Jones Industrial Average fell 90.24 to close at 14421.49, while the S&P dropped 12.91 to 1545.8 and the NASDAQ closed lower by 31.59 to 3222.6.
Asian Markets Drop In Australia Binary Options Trading
Most Asian stock markets took a breather this week in Australia binary options trading. Worries over Cyprus have dampened the bullish enthusiasm for equities. Signs of protestors in Cyprus clashing with police on the news doesn’t help to calm markets. Australia binary options traders are worried about the crisis spreading to other embattled European nations.
Australia Binary Stock Options See Worst Week In 10 Months
Australia binary put options were the big winners this week on Aussie stocks. Worries over the price of iron ore were evident this week and that hurt resource stocks in the Australia binary options market. The ASX 200 is rebounding slightly as we head into the weekend by rising 13.4 to 4972.80.
Kuroda Disappoints Australia Binary Options Traders
New Bank of Japan Governor Haruhiko Kuroda failed yesterday to outline any fresh stimulus measures. Australia binary options traders are looking for action from the Bank of Japan to justify the excessive weakening in the Japanese yen. The move in the yen has come in the form of verbal communication from Prime Minister Shinzo Abe and his economic team. The yen strengthened and the Nikkei weakened after Kuroda signaled no action.
ECB Issues Deadline To Cyprus In Australia Binary Options Trading
The European Central Bank told Cyprus that they have until next week to come to terms on a bailout or lose funding. This has traders worried and why the euro continues to trade at a four-month low to the US dollar. The euro got especially hit hard against the yen this week as traders went into risk-off mode. If Cyprus fails to agree to terms on the bailout, Australia binary options traders can expect a move in the EUR/USD to the 1.26 level.
Euro Worries Boost Australia Binary Options On Gold
Gold has staged a significant recovery this week as Cyprus rattled the markets. Gold bulls see Cyprus as the catalyst to ignite a new bull run in the price of gold. Federal Reserve Chairman Ben Bernanke reiterated his support for QE this week and that added further support to the market. In Australia binary options trading, gold is at $1612.80 and silver at $29.10.
Australia Binary Options Economic Data Calendar
All Times GMT
- 0900 German Ifo Business Climate Index 107.6 forecast 107.4 prev (EUR)
- 0900 German Current Assessment 110.4 forecast 110.2 prev (EUR)
- 0900 German Business Expectations 104.9 forecast 104.6 prev (EUR)
That’s pretty much it for economic data in Australia binary options trading. The data out of Germany will guide the market on how Europe’s strongest economy is faring. Be alert for any headlines out of Cyprus.
As always good luck to all Australia binary options traders. Be sure to check back for the latest updates and hope everyone has a great trading day!
