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US Stocks Boost Australian Binary Options

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Australian binary options on the ASX 200 are getting a boost today from the strength in the US markets as well as positive economic sentiment in Australia. The Reserve Bank of Australia held interest rates steady, but indicated their willingness to cut in the future. Australian retailers also gained after January retail sales came in much better than expected. The ASX 200 closed up almost 65 points to 5075.40.

Australian Binary Options On Aussie Dollar Rise

The Aussie dollar is higher against all its major peers in the Australian binary options market today. Reserve Bank of Australia Governor Glenn Stevens said that growth would come this year from heaving investment in the resource sector. His comments indicated that he is rather upbeat about the Australian economy going forward.

In Australian binary options trading, the AUD/USD is at 1.02386, the AUD/JPY at 95.232 and the AUD/NZD at 1.23489.

Stocks In The US Rise

Stocks in the US rose to another 5 year high as markets shrug off possible slowing in China, Italian election uncertainty, and forced US government budget cuts. Federal Reserve Vice Chairman Janet Yellen said that the Fed should continue its $85 billion monthly bond buying program. She is seen as a potential successor to current Fed Chairman Ben Bernanke next year, so her comments have significant weight in the markets.

Binary options on the Dow Jones Industrial Average rose 38.16 to 14,127.82, the S&P 500 Index rose 7 to 1525.20, and the NASDAQ gained 12.29 to 3.182.03.

Yen Strengthens In Forex And Binary Options Trading

The yen strengthened today in early forex and binary options trading as nominees to the Bank of Japan failed to give specifics on further monetary easing. The markets are anxious for BOJ action to justify the run up in the yen. If the BOJ doesn’t act soon, the yen will likely strengthen further. BOJ nominee Hiroshi Nakaso said that he’s uncertain if Japan will be able to meet its 2 percent inflation target within 2 years. That is not what the market wants to hear right now.

Currently in forex and binary options trading, the USD/JPY is at 93.046, the EUR/JPY at 121.248 and the GBP/JPY at 140.672.

Binary Options On Crude Oil Recover From $90

Binary options on crude oil traded at their lowest levels in over 10 weeks yesterday. A leak on a platform in the North Sea shut in some Brent crude oil production and that helped prices recover. A key factor helping West Texas Intermediate is the fact that the 200-day moving average is $90.36. WTI is currently trading at $90.41. Many large funds use the 200-day moving average to gauge support and resistance. This is a critical area for WTI to hold. Brent crude oil is at $110.49.

Economic Data Calendar

All Times GMT

  • 0813 Spanish Services PMI 46.0 forecast 47.0 prev (EUR)
  • 0845 Italian Services PMI 43.6 forecast 43.9 prev (EUR)
  • 0848 French PMI 42.30 prev (EUR)
  • 0850 French Services PMI 42.7 forecast 42.7 prev (EUR)
  • 0855 German Services PMI 54.1 forecast 54.1 prev (EUR)
  • 0900 European Services PMI 47.3 forecast 47.3 prev (EUR)
  • 0930 British Services PMI 51.0 forecast 51.5 prev (GBP)
  • 1000 European Retail Sales (MoM) 0.2% forecast -0.8% prev (EUR)
  • 1500 US ISM Non-Manufacturing Index 55.0 forecast 55.2 prev (USD)

We have services PMI today from Europe and the US. Watch these for an indication of economic strength or weakness. If the data points come in better than expected, there’s hope for the global recovery to continue. That’s what the market wants to see right now. If the data comes in weak, markets could selloff, but buyers continue to buy the dips in equities.

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