Dollar touches two-week high versus euro – Hot Picks Dec 21
 Market Update: The U.S. dollar rose Monday to its highest level against the euro in two weeks, extending gains after the European Central Bank released data showing it sharply reduced purchases of European government bonds in the latest week. |
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Index Hot Pick of the Day |
 The London FTSE 100 index is now resting just below a very significant resistance level at 5900. This resistance level appeared as well in early November. Usually break outs from this type of chart pattern lead to much higher prices. |
Binary Options Hot Picks – Sep 30
Latest market updates:
Apple is also waiting to see which direction the markets will go now. A reversal of the S&P would mean a reversal for Apple. Judging by the stochastic we are looking at lower prices from here. Trade It Now
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Binary Options Daily Review – May 18, 2010
Binary Options Market Highlights
EURUSD edging lower
If you have been following our previous newletters about the Euro’s expected decline, you are probably in the money by now. The euro had dropped to $1.2341 as of 0450 GMT from $1.2392 in New York late Monday, and fell to Y114.13 against the yen compared with Y114.64. Traders said that U.S. banks and Japanese institutional players appeared to be behind the selling.
Crude Oil Settles at 5-month low, barely above $70
Crude-oil ended at a five-month low Monday amid concerns that Europe’s debt troubles will slow down the global economic recovery and, by extension, demand for oil. We anticipate Oil to weaken further should the U.S. Dollar continues to strengthen as expected, but we are keeping a keen eye on the Oil spill in the Gulf of Mexico which could trigger a possible rebound.
Gold ends higher; copper drops 6.5%
As we promised all week long in our newsletters, Gold continues its march higher. While Gold slowly edges higher and appears to be resting at these levels, we expect Gold prices to continue higher following the stronger U.S. dollar.
U.S. Stocks are now poised for a recovery
Blue chips erase a nearly 200-point slide with major U.S. stock indexes finishing modestly higher, after a late-session reversal led by technology companies overrode worries that Europe’s debt troubles would deny any chances of global economic growth.
AAPL, GOOG, MSFT lead the late session rally
Technology stocks put the brakes a on losses Monday, as the sector rallied late in a session highlighted by broad-market concerns about the state of the global economic recovery. Aadvances came from Google Inc. (GOOG 507.97, +0.44, +0.09%) , Intel Corp. (INTC 22.02, +0.13, +0.59%) , Microsoft Corp. (MSFT 28.94, +0.01, +0.03%) and Apple Inc. (AAPL 254.22, +0.40, +0.16%).
iPad Launched this Saturday how is it going to impact on the stock’s price?
Stock Highlights: Apple iPad Launch
There has been a lot of talk about the iPad since the announcement of its launch. Still, many debate what it really is, what it can do, what are the applications that are best fit for the iPad. But the main question that remains is: how is it going to impact on the stock’s price?
Apple’s [Nasdaq:AAPL] new wonder device, the iPad, got off to a strong start even before this weekend’s official launch date. Eager customers lined up at Apple stores Saturday to get their hands on the new and much-hyped tablet-style PC. This was due in part, no doubt, to the fact that Apple sold out of preorders of the iPad. With a starting price of $499 to $699, estimates for iPad sales for all of 2010 range from 3 million to 6 million units. Estimates for just this weekend alone range from 300,000 to 500,000 units out the door and into the hand of early adopters and Apple fanatics.
Forex Market Review:
The upcoming week begins with important American figures on Easter day, and continues with a very busy week all over the world – four rate decisions, two employment releases and one Ben Bernanke are on the menu this week. Let’s see what’s awaiting us:
This market review was brought to your by our partner: ForexCrunch.com
The echoes of the Non-Farm Payrolls will be heard at the beginning of the week, when the calendar is light, and also afterwards. The rise in jobs, that finally arrived, will raise the pressure for a rate hike. OK, let’s start reviewing the 11 major events:
1. American ISM Non-Manufacturing PMI: Published on Monday at 14:00 GMT. After the same figure for the manufacturing sector posted a huge surprise last week, expectations are high for this figure as well – a rise from 53 to 54.3 points is predicted – the highest in two and a half years.
2. American Pending Home Sales: Published on Monday at 14:00 GMT. After a huge disappointing drop of 7.6% last month, this important housing indicator is predicted to drop by another 0.9%. Together with the PMI, both figures will rock the markets on Easter Day, as most traders are on holiday, and only these releases are due.
3. Australian rate decision: Published on Tuesday at 4:30 GMT. There contradicting expectations for this decision. On one hand, Glenn Stevens (RBA governor) signaled another rise in rates to 4.25%, but the recent figures from Australia indicated a pause, after they reached 4%. The uncertainty will make the impact stronger than usual.
4. American FOMC Meeting Minutes: Published on Tuesday at 18:00 GMT. Despite the rise in the discount rate and one member, Thomas Hoeing, that wants the bank to be more hawkish, the FOMC statement hasn’t really changed recently. Will the meeting minutes reveal something new about a future rate hike?
5. Japanese rate decision: Published on Wednesday morning. The BOJ isn’t expected to move the interest rates, still at 0.1%. The focus will be on the tone of the accompanying statement and especially on extra easing steps. Japanese policymakers are happy with the recent decline of the yen, but the economy is still struggling, as seen in the Tankan index. This will shake USD/JPY and the yen crosses.
6. Australian employment data: Published on Thursday at 1:30 GMT. After 4 superb months, the recent employment figures in Australia were only OK. More positive yet stable data is due this time – employment change is predicted to rise by 20K, and the unemployment rate to remain unchanged at 5.3%.
7. British rate decision: Published on Thursday at 11:00 GMT. The Official Bank Rate is expected to stay at the historic low of 0.5%, and the Quantitative Easing program will probably not receive extra cash, after exhausting the 200 billion pounds allocated to it. The focus will be on the MPC rate statement, and especially comments about the government deficit and the economy. Will Mervyn King hurt the Pound again?
8. European rate decision: Published on Thursday at 11:45 GMT. Jean-Claude Trichet will make his first rate decision after the Greek accord (“safety net”), that helped the Euro recover. The rate has no reasons to rise above 1%, so also here, comments about the economy at the press conference (45 minutes after the release) will rock the Euro.
9. American Unemployment Claims: Published on Thursday at 12:30 GMT. Yet another drop in the weekly jobless claims is due. After reaching 439K, they’re predicted to drop to 432K, supporting more job gains in the next NFP. Recent releases were better than expected. Will there be another positive surprise?
10. Ben Bernanke talks: Starts speaking on Friday at 00:30 GMT. The chairman of the Federal Reserve always moves the markets, even if he doesn’t say anything meaningful. He’ll speak about economic policy at a dinner in Washington, and will respond to questions from the audience. The dollar could move sharply in the middle of the Asian session.
11. Canadian employment data: Published on Friday at 11:00 GMT. After the recent drop to 8.2%, Canada’s unemployment rate will probably remain unchanged. The accompanying figure, employment change, will probably show another nice gain in jobs – 25.3K. This can push the loonie higher.
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