Binary Options Daily Review July 28, 2010
SPOTLIGHT
Gold falls to 3 month lows
Gold futures settled at a three-month low Tuesday, routed as they slid below a key support level early in the trading session and a wave of selling ensued.
U.S. stocks down on Tuesday
Strong earnings from DuPont helped drive the Dow Jones Industrial Average higher Tuesday, but the Standard & Poor’s 500 fell as a drop in consumer confidence weighed on consumer-sensitive stocks including Home Depot and McDonald’s.
Euro down vs. Yen
The euro edged lower against the yen as overnight gains to a more than two-month high encouraged Japanese exporters to sell in order to lock in profits. Further declines in the risk-sensitive euro are likely to be short-lived, as rising Asian shares are supporting sentiment toward the currency.
Dollar moves higher
The U.S. dollar advanced on Tuesday, gaining 1% against the Japanese yen and pushing the euro back under $1.30, after a report showed U.S. consumer confidence fell more than many anticipated, pressuring equities lower and reducing investors’ appetite for risky assets.
Oil falls 2%
Oil prices fell nearly 2% Tuesday as stocks wavered between gains and losses and selling momentum took over after the day’s two major pieces of macroeconomic news disappointed investors.
