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Binary Options Daily Analysis – Successful Debt Auctions in Spain and Italy Lift Euro

ByBinary Options Strategy
Published 02/04/2012, 11:56 PM
Updated 05/14/2017, 06:45 AM
EUR/USD
-0.13%
NDX
-0.47%
DE40
0.25%
JP225
0.47%
Equities

Asian markets traded mostly lower, despite a report from China which showed inflation fell to 4.1%, its lowest level in 15 months. The Shanghai Composite eased fractionally, settling at 2275. Hong Kong’s Hang Send slid .3%, rhe Nikkei lost .7%, and the ASX 200 edged down .2%. Bucking the downtrend, South Korea’s Kospi rallied 1%,

In Europe, the ECB held rates steady, and ECB chairman, Mario Draghi, said there are signs the region is stabilizing. The FTSE and CAC40 declined .2%, while the DAX rose .4%. Auctions in short-term debt in Spain and Italy were wildly successful, but their ability to sell longer term debt may prove more challenging.

US stocks posted modest gains, despite weak economic data. The Dow inched up 22 points to 12471, the Nasdaq advanced .5%, and the S&P 500 rose .2%.

Dick’s Sporting Goods soared 12.5% after announcing a buyback plan, while Williams-Sonoma tumbled 12.2% after cutting its outlook.

Currencies
The Euro rallied .9% to 1.2826, and the Swiss Franc gained 1.1% to 1.0595, as the successful bond auctions in Europe relieved some anxiety. The Pound and Candian Dollar both rose .1%, and the Australian Dollar settled up .3% at 1.0340.

<span class=EUR/USD" title="EUR/USD" width="804" height="373">
Economic Outlook
Weekly unemployment claims jumped by 24K to 399K, hitting their highest level in 6 weeks.
Retail sales rose a mere .1% last month, a sharp drop from November’s .4% rise.

Friday’s economic reports will include international trade, import & export prices, and consumer sentiment.

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