Binary Options Daily – May 3, 2010
Currency news today is full of huge headlines, as Greece reached an agreement under which it would accept a bailout package of direct loans from euro-zone countries and the International Monetary Fund, media reports on Sunday said. The reports put the potential value of that package at 100 billion to 120 billion euros ($132.5 billion to $159 billion) over three years. As a result, the European Central Bank announced on Monday it would suspend the minimum credit-rating threshold for all Greek government debt, a day after Athens agreed to stringent austerity measures in return for a 110-billion-euro bailout package from its euro-zone partners and the International Monetary Fund. “This positive assessment and the strong commitment of the Greek government to fully implement the program are the basis, also from a risk-management perspective, for the suspension announced herewith,” the ECB said. European stocks opened mostly lower on Monday, indicating sentiment that inflation may be the long-term implication of this agreement. Expect the USD pairs, especially the EURUSD to react to these news. Trade the news at StartOptions.com using Binary Options on the EUR/USD.
In market news today, expect airline stocks, like JetBlue, to move, on news that Boards of Continental and United Airlines parent UAL reportedly approve their long-awaited, $3.2 billion all-stock deal to create world’s largest air carrier. However, overall sentiment is that due to May’s tendencies, Goldman, European debt issues will make it tough to sustain momentum. After climbing in April, the U.S. stock market starts May on less-certain footing, given the new month’s spotty record and stocks’ retreat over the past week. As a result, stocks may take a hit over the next few days, a great time to short the market using Binary Option Puts.
