Binary Options Daily – May 11, 2010
Stock Binary Options News
European shares Tuesday gave back some outsize gains made in the previous session, with miners declining, as worries about prospects for economic growth turned to China. The Stoxx Europe 600 index lost 1.3% to trade at 250.94, after soaring 7.2% on Monday after a package to support Greece and other peripheral European countries led to big gains for banks. The losses came as China’s inflation rate accelerated in April, as consumer and producer prices beat estimates, while bank lending rose nearly 30% faster than average forecasts. The data led analysts to speculate that rate hikes are on the way, as authorities attempt to keep the country’s red-hot economy in check. Asian shares weakened after the data from China, while U.S. stock futures were pointing to a downbeat open on Wall Street following strong gains on Monday.
U.S. stocks made their biggest one-day gain in 13 months Monday, re-establishing gains for the year, after an agreement on a nearly $1 trillion rescue plan to stabilize Europe lured investors back to a badly shaken market. After last week’s wipeout of gains made in 2010, the Dow Jones Industrial Average closed up 404.71 points, or 3.9%, to 10,785.14, its biggest daily gain since March 2009, and enough to bring it safely back into positive territory for the year.
Forex Binary Options News
The EURUSD traded at $1.2740 early Tuesday, with the common currency down 0.1%. GBPUSD declined 0.2% to $1.4814 as the main political parties continue to try and form a new government. The EURJPY fell in Asia Tuesday as bank dealers and short-term investors sold the common currency amid the continued threat of more credit rating downgrades to fiscally troubled euro-zone members despite a massive bailout plan announced earlier in the week.
Commodities Binary Options News
Crude fell Tuesday in Asia as the euro weakened against the dollar. The nearly $1 trillion rescue package for the euro-zone economies, which boosted crude prices Monday, hasn’t fully convinced traders, analysts said. On the New York Mercantile Exchange, light, sweet crude futures for delivery in June traded at $76.41 a barrel at 0558 GMT, down $0.39 in the Globex electronic session. June Brent crude on London’s ICE Futures exchange fell $0.36 to $79.76 a barrel. Crude oil traders are more keenly watching the euro-zone crisis developments than the data, amid expectations of continued euro-dollar volatility.
Gold futures fell on Monday but were paring their losses as some investors cautioned Europe’s financial-stabilization plan lacked details and that it could raise inflation fears. Gold for June delivery, the most active contract, dropped $12.60, or 1%, to $1,198.30 an ounce on the Comex division of the New York Stock Exchange.
