US Employment Report Boosts Australian Binary Options
Employment in the US rose in February more than most economists had expected. Employers added 236,000 jobs last month, much more than the 165,000 that was expected. Australian binary options traders that owned calls on US equities saw nice gains to end the week. The Dow Jones Industrial Average rose 67.58 points to close at 14,397.07, the S&P 500 Index gained 6.92 points to 1551.18, and the tech heavy NASDAQ closed up 12.28 to 3244.37. Gains in US stocks were led by McDonalds and Citigroup. Most analysts are raising their forecasts on the S&P 500 Index as it closes in on the 1600 level and new all-time highs.
US Dollar Rallies For Australian Binary Options Traders
The strong payrolls report boosted the US dollar as traders see evidence of increasing strength in the US economy. A stronger US economy could remove Fed stimulus from the market and that is US dollar bullish. The US Dollar Index gained for a fifth straight week. Right now the US economy and the US dollar appears to be stronger than other economies and their respective currencies. Growth rates in the US are better than they are in the United Kingdom and Europe.
Among the US dollar pairs, the EUR/USD ended the week at 1.30040, the GBP/USD at 1.49230, the AUD/USD at 1.02320, USD/CAD at 1.02840, the USD/CHF at .95105, and the USD/JPY at 96.000.
Yen Seen Weakening To 100 In Australian Binary Options Trading
The Japanese yen looks set to weaken further against the US dollar and touch 100 before we know it. The US Federal Reserve looks set to possibly pull back on monetary stimulus and the Bank of Japan looks set to crank up monetary stimulus. It’s a tale of diverging Central Bank action with the yen weakening and the dollar strengthening.
Australian Binary Options Traders Bullish On Crude Gain
The increase in employment boosted US crude oil futures on signs of increasing demand. As I’ve said in binary trading strategy, psychological numbers are very important in Australian binary options trading. Key numbers such as $90 are numbers that traders trade off of. This week that level held and WTI closed the week at $91.87. Australian binary options traders that followed this binary options system made money.
Bill Gross Sees US GDP Growth At 3% This Year
After the US employment report, noted PIMCO fund manager Bill Gross raised his expectations for US GDP growth this year to 3%. This is a doubling of his previous forecast. A lot of smart money is optimistic on the US economy and have been buying equities. Most finally see a recovery in the US housing market that has been holding growth back. Gross runs the world’s largest bond fund, the PIMCO Total Return Fund with $288 billion in assets.
Australian Binary Options Data For Next Week
Next week won’t be as data heavy as this week. In the US we have retail sales, jobless claims, PPI and CPI and Industrial Production and Consumer Sentiment. Over the weekend China releases Industrial Production and Retail Sales. In New Zealand next week we have the interest rate decision from the Reserve Bank of New Zealand. In Australia we have data on home loans and a labor force survey.
As always good luck to all Australian binary options traders and hope everyone has a great weekend. Be sure to check back for the latest updates!
