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Binary Options Daily Analysis – European Officials Reject Greek Debt Deal

ByBinary Options Strategy
Published 02/04/2012, 11:42 PM
Updated 05/14/2017, 06:45 AM
NDX
-0.86%
DE40
0.28%
JP225
0.47%
Equities

In Asia, markets in Korea, China, and Hong Kong remained closed for the Lunar New Year. The Nikkei rose .3% to 8985, as Elpida Memory soared 4% on hopes for a successful merger with Micron Technology. The ASX 200 closed flat, surrendering earlier gains.

European shares declined as hopes for a Greek debt deal began to fade, after finance ministers rejected an offer from private debt holders. The FTSE and CAC40 fell .5%, and the DAX eased .3%, despite an upbeat PMI report which rose to its highest level in 4 months.

In the US, the major indexes closed mixed. The S&P 500 snapped its 5-day winning streak, slipping .1%, while the Dow ticked down 33 points to 12676. The Nasdaq posted a modest .1% rise.

Travelers’ shares fell 3.8% after reporting earnings which were weaker than expected. Texas Instruments reported chip sales that beat expectations, but the shares still fell 2%.

Currencies
The Dollar traded mixed against world currencies, as traders paid little mind to the disappointing news from Greece. The Yen slumped 1% to 77.72 against the dollar, and the Australian dollar declined d.5% to 1.0477, while the Pound rose .3% to 1.5616. The Euro inched up 7 pips to 1.3026, and the Canadian Dollar edged up .1% to 1.0100.

Economic Outlook
The Richmond manufacturing index blew past forecasts, surging to 12 from last month’s reading of 3. Analysts had expected the index to rise to 6.

Wednesday’s economic data will include the OFHEO home price index, pending home sales, weekly mortgage applications, and weekly oil inventories.

In the afternoon, the Fed will issue its rate statement and hold a press conference.

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