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Exports Boost Australian Binary Options

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Australian binary options are trading higher after exports boosted GDP growth last year to 3.6 percent. This was the fastest rate in 5 years. The report illustrated that the Australian economy might be in better shape than many had thought. Assets in the Australian binary options market are rallying across the board on the news. Australian stocks and the dollar are both trading higher as exports increased 3.3 last quarter. Australia’s GDP growth last year was the strongest among the major advanced economies.

Australian Binary Options On The Dollar Higher

Binary options on the Australian dollar are higher against all its major trading peers today. The country reported GDP growth that was more than expected and casts doubts on further interest rate cuts by the Reserve Bank of Australia. The RBA held rates steady at this week’s meeting.

In Australian binary options and forex trading the AUD/USD is at 1.02900, AUD/JPY at 95.866, and the AUD/NZD at 1.23446.

ASX 200 Up In Australian Binary Options Trading

The ASX 200 closed up 41.4 points to 5116.80 in the Australian binary options market. Gains were seen across the board and were lead by binary options on Australian banking stocks. ANZ closed higher by 36 cents to $29.23, Commonwealth Bank rose 63 cents to $69.31, National Australia Bank rallied 24 cents to $30.83, and Westpac climbed 41 cents to $31.66.

Dow Jones Industrial Average Closes At Record High

The Dow Jones Industrial Average rose 125.95 points to close at 14,253.77, surpassing its previous closing high of 14,164.53 and its previous intraday high of 14,198.10. Markets continue to move higher on global growth prospects and continued central bank stimulus. China this week pledged growth to continue at 7.5 percent this year. Yesterday the ISM non-manufacturing index for the US came in better than expected at a reading of 56.

Binary Options On Other Asian Stock Markets Rise

The rally in the US and Australia markets is also fueling momentum elsewhere in Asia. The Nikkei 225 is higher by 248 points to 11,932. The Hang Seng is up 190 points to 22,750. The Shanghai Composite rose 15 points to 2341.06.

US Dollar Drops AS Risk-On Sentiment Continues

Global markets are in a global risk-on pattern. The US dollar has dropped the past 2 days against all its major peers, except the yen, as economic data comes in better than expected and stocks race to new all-time highs. Markets are further anticipating a bullish US employment report on Friday. If stocks continue to trade higher, look for further US dollar weakness.

Binary Options On Commodities Rise

Investors are coming back into commodities on overall demand optimism. After the recent selloff in the price of gold, central banks have been adding to their reserves. South Korea, Russia and Kazakhstan are among the countries that have been increasing their holdings in gold. The Bank of Korea added 20 metric tons in February, while Russia and Kazakhstan increased their holdings in January for a fourth straight month. Gold is trading at $1577 and silver at $28.76.

The crude oil complex rose as a North Sea pipeline remained shut and after Venezuelan leader Hugo Chavez died. Venezuela produced 2.86 million barrels a day last month. It’s unclear yet what impact his death will have on oil prices. Tomorrow the US Department of Energy will report its weekly inventory report and that will have an impact on prices. WTI is trading at $91.03 and Brent at $111.89.

Economic Data Calendar

All Times GMT

  • 0800 Halifax House Price Index For Britain (MoM) 0.2% forecast -0.2% prev (GBP)
  • 0945 BOE Governor King Speaks
  • 1000 Euro Zone GDP (QoQ) -0.6% forecast -0.6% prev (EUR)
  • 1315 ADP Non-Farm Employment Report 170K forecast 192K prev (USD)
  • 1500 US Factory Orders (MoM) -2.2% forecast 1.8% prev (USD)
  • 1500 Canadian Interest Rate Decision 1.00% forecast 1.00% prev (CAD)
  • 1500 Canadian IVEY PMI 58.0 forecast 58.9 prev (CAD)
  • 1530 US Crude Oil Inventories 0.526M forecast 1.130M prev (Crude Oil)
  • 1530 US Gasoline Inventories -0.700M forecast -1.857M prev (Crude Oil)
  • 1900 Federal Reserve Beige Book
  • 2230 AIG Construction Index for Australia 36.2 prev (AUD)

Today investors need to pay attention to Governor King’s speech, Euro GDP, the ADP employment report, the Bank of Canada announcement, oil inventories, and the Federal Reserve Beige Book. The Beige Book is the bank’s assessment of economic activity in key regions of the US. For Australian binary options, the AIG Construction Index will be important.

As always good luck to all binary options and forex traders in Australia. Be sure to check back for the latest updates!