Risk Back On In Global Forex And Binary Options Markets

The forex and binary options markets are rising in Asia trade on the back of US equities closing at 5 year highs. Stocks in the US got a boost from strong housing data and Italy sold bonds at a better than expected interest rate. Housing in the US is on the rebound and that is extremely positive for global sentiment. The Dow Jones Industrial Average rose 175 points to 14,075 and the S&P 500 Index advanced 19 points to just under 1516.

Binary Options On Australian Stocks Advance

The ASX 200 is following the gains seen in New York and is up by 67 points, breaking through the 5100 level to 5104. Traders are anticipating gains to continue. The gains were lead by the banking sector with Commonwealth Bank rising $1.26 to $67.27, Westpac gaining 57 cents to $30.77, National Australia Bank adding 17 cents to $30.20 and ANZ closing higher by 44 cents to $28.72.

Aussie Dollar Holds the 1.02 Level

The Aussie dollar held the first key critical support level of 1.02 to the US dollar. Markets are not expecting a rate cut by the RBA when they meet next week. The Aussie is trading at 94.848 yen, 1.23464 kiwis, and 1.02705 US dollars.

Japanese Stocks Rally On Kuroda Nomination

Japanese Prime Minister Shinzo Abe formally nominated Asian Development Bank President Haruhiko Kuroda to be the next Governor of the Bank of Japan. The Nikkei 225 rose 246 points to close at 11,500.50. Markets are now turning their attention to what actions Kuroda will now take as BOJ Governor. The market is now looking for monetary action and not just words.

Yen Weakens On Kuroda Nomination

The yen resumed its bear trend as the market anticipates monetary easing from the Bank of Japan. I see the dollar reaching 100 yen at some point this year as Bank of Japan adopts stimulus measures. The yen weakness is a trend to continue playing in the forex and binary options markets.

Draghi Speaks And The Market Listens

Mario Draghi spoke and the market listened. He said that the ECB is not in any hurry to tighten monetary policy. The euro rose on his comments and is currently trading at 1.3145 to the US dollar. The critical 1.30 level held in the forex and binary options market.

Economic Data Calendar

Times GMT

0645 Swiss GDP (QoQ) -0.3% forecast 0.6% prev (CHF)
0745 French Consumer Spending (MoM) -0.2% forecast 0.0% prev (EUR)
0745 French PPI (MoM) 0.2% forecast -0.3% prev (EUR)
0800 Spanish GDP (QoQ) -0.7% forecast -0.7% prev (EUR)
0855 German Unemployment Rate 6.8% forecast 6.8% prev (EUR)
0855 German Unemployment Change -5K forecast -16K prev (EUR)
1000 European CPI (YoY) 2.0% forecast 2.0% prev (EUR)
1000 European Core CPI (YoY) 1.5% forecast 1.5% prev (EUR)
1300 German CPI (MoM) 0.7% forecast -0.5% prev (EUR)
1300 German CPI (YoY) 1.6% forecast 1.7% prev (EUR)
1330 Canadian Current Account -17.0B forecast -18.9B prev (CAD)
1330 US Initial Jobless Claims 360K forecast 362K prev (USD)
1330 US GDP (QoQ) 0.5% forecast -0.1% prev (USD)
1445 Chicago PMI 54.3 forecast 55.6 prev (USD)
1600 Kansas City Fed Manufacturing -2.00 prev (USD)
2145 New Zealand Terms of Trade Index (QoQ) 1.4% forecast -3.2% prev (NZD)
2230 AIG Manufacturing Index 40.2 prev (AUD)
2330 Japan Unemployment Rate 4.2% forecast 4.2% prev (JPY)
2330 Tokyo Core CPI (YoY) -0.6% forecast -0.5% prev (JPY)
2330 Japan National Core CPI (YoY) -0.2% forecast -0.2% prev (JPY)
2330 Japan Household Spending (YoY) 0.3% forecast -0.7% prev (JPY)
2350 Japan Capital Spending -7.00% forecast 2.20% prev (JPY)

As always, good luck to all forex and binary options traders and be sure to check back for the latest updates!