Todays Outlook for Binary Options Traders
The markets are closed today in the US for Presidents Day, however European Central Bank President Mario Draghi will be speaking later today. Keep a close eye on this as it is will impact the markets. No other economic events today.
An interesting and somewhat surprising weekend as the currency war did not take center stage at the G20 meeting in Moscow as was anticipated. The finance ministers did not single out the poorly performing Yen after the currency was devaluated by the Bank of Japan but instead the finance ministers at the G20 said they would “refrain from competitive devaluation” and they also announced a crackdown on tax avoidance by the large firms. The last time a currency war was seen was in 1930 as countries vie against each other to devaluate their own currency and therefore make the price of their exports such as durable goods lower and more competitive.
After the conclusion of the G20 meeting Asian stocks gained as the currency devaluation topic was not covered. The JPY dropped against its major counterparts and Japanese stocks performed well. This means the world’s second greatest economy can pursue its asset buying programme which.
Friday was a good day for the USD in which it gained against most of the majors after Fed Reserve Chair Ben Bernanke said that even with the high unemployment rates the US economy was showing positive signs of recovery. EURUSD dropped 0.16per cent and was trading at a three-week low off the back of weak data for the EUR. This data includes a shrinking GDP in Q4 of 0.6%. The USD rose 0.21per cent against the GBP and 0.22per cent against the CHF.
Stocks
Close of US trading on Friday saw the DJIA finish at 0.06per cent higher and the S&P500 down by 0.10per cent. The NASDAQ index fell by 0.21 per cent as weak industrial production figures pushed investors away from the stocks and into the safe haven USD.
In the Euro zone the stocks closed mostly lower with German DAX 30 down 0.49per cent, French CAC 40 down 0.25per cent and FTSE 100 down 0.01per cent.
This morning was a good one for Japan’s Nikkei 225 as it climbed 2.09per cent as a result of the Japanese market being able to continue its asset buying policy and thus making its exports cheaper. Australian S&P/ASX 200 rose 0.5per cent ahead of tomorrow’s Bank of Australia meeting. China’s Shanghai Composite finally reopened, and climbed 0.61per cent, after the new year celebrations there concluded. This was pushed up by positive news about the Chinese travel industry which is seeing record highs and thus affecting leisure and travel shares.
Forex
Friday saw investors rushing to the USD as it saw gains against all its major counterparts. USD/JPY performed the best with a 0.67per cent rise. This morning the USD continued its rise against the JPY with a 0.62 per cent gain. The USD continues to be the safe haven for investors after the conclusion of the G20 meeting. This morning the USD gained 0.21 per cent against the GBP and 0.22 per cent against the CHF.
Commodities
Commodities had a bad time on Friday as traders moved away from them and towards the USD. This in turn made the commodities more expensive and further pushed the price down. Gold was at a six-month low on Friday, down 1.57 per cent, silver down 1.94 per cent and Crude Oil down 1.37 per cent on the back of the weak industrial production numbers.
This morning’s European session saw rises in Gold and Silver up 0.36 perc ent and 0.56 per cent respectively and Crude falling 0.31 per cent from decrease in supply and the Ecuadorean presidential elections.
The markets are closed today in the US for Presidents Day, however European Central Bank President Mario Draghi will be speaking later today. Keep a close eye on this as it is will impact the markets. No other economic events today.
An interesting and somewhat surprising weekend as the currency war did not take center stage at the G20 meeting in Moscow as was anticipated. The finance ministers did not single out the poorly performing Yen after the currency was devaluated by the Bank of Japan but instead the finance ministers at the G20 said they would “refrain from competitive devaluation” and they also announced a crackdown on tax avoidance by the large firms. The last time a currency war was seen was in 1930 as countries vie against each other to devaluate their own currency and therefore make the price of their exports such as durable goods lower and more competitive.
After the conclusion of the G20 meeting Asian stocks gained as the currency devaluation topic was not covered. The JPY dropped against its major counterparts and Japanese stocks performed well. This means the world’s second greatest economy can pursue its asset buying programme which.
Friday was a good day for the USD in which it gained against most of the majors after Fed Reserve Chair Ben Bernanke said that even with the high unemployment rates the US economy was showing positive signs of recovery. EURUSD dropped 0.16per cent and was trading at a three-week low off the back of weak data for the EUR. This data includes a shrinking GDP in Q4 of 0.6%. The USD rose 0.21per cent against the GBP and 0.22per cent against the CHF.
Stocks
Close of US trading on Friday saw the DJIA finish at 0.06per cent higher and the S&P500 down by 0.10per cent. The NASDAQ index fell by 0.21 per cent as weak industrial production figures pushed investors away from the stocks and into the safe haven USD.
In the Euro zone the stocks closed mostly lower with German DAX 30 down 0.49per cent, French CAC 40 down 0.25per cent and FTSE 100 down 0.01per cent.
This morning was a good one for Japan’s Nikkei 225 as it climbed 2.09per cent as a result of the Japanese market being able to continue its asset buying policy and thus making its exports cheaper. Australian S&P/ASX 200 rose 0.5per cent ahead of tomorrow’s Bank of Australia meeting. China’s Shanghai Composite finally reopened, and climbed 0.61per cent, after the new year celebrations there concluded. This was pushed up by positive news about the Chinese travel industry which is seeing record highs and thus affecting leisure and travel shares.
Forex
Friday saw investors rushing to the USD as it saw gains against all its major counterparts. USD/JPY performed the best with a 0.67per cent rise. This morning the USD continued its rise against the JPY with a 0.62 per cent gain. The USD continues to be the safe haven for investors after the conclusion of the G20 meeting. This morning the USD gained 0.21 per cent against the GBP and 0.22 per cent against the CHF.
Commodities
Commodities had a bad time on Friday as traders moved away from them and towards the USD. This in turn made the commodities more expensive and further pushed the price down. Gold was at a six-month low on Friday, down 1.57 per cent, silver down 1.94 per cent and Crude Oil down 1.37 per cent on the back of the weak industrial production numbers.
This morning’s European session saw rises in Gold and Silver up 0.36 perc ent and 0.56 per cent respectively and Crude falling 0.31 per cent from decrease in supply and the Ecuadorean presidential elections.