Binary Options Daily Review August 25, 2010
Stocks:
U.K. stocks were broadly flat Wednesday, as losses for Tullow Oil were offset by well-received results from BHP Billiton and insurer Admiral Group.
The U.K.’s benchmark FTSE 100 index rose 0.1% to 5,158.60, helped by a 1% gain for heavyweight miner BHP Billiton after it said fiscal-year profit more than doubled to $12.72 billion.
A broad decline in U.S. stocks that sent the Dow Industrials briefly below 10,000 ended sharply Tuesday, after poor data on the housing market intensified worries about the global economic recovery.
Currencies:
The Japanese yen eased against its rivals during Asian trading Wednesday after hitting multiyear highs the previous day, with the market watching for possible intervention by Tokyo to curb the currency’s rise.
In East Asian afternoon trading, the U.S. dollar changed hands at ¥84.38, recovering from its 15-year low of ¥83.57 Tuesday.
Commodities:
Crude oil futures rose slightly in Asia trading Wednesday as fresh buying emerged after prices closed at their lowest levels in more than two months.
A weaker U.S. dollar against the euro helped support buying interest, but gains were limited by a fall in regional equities.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in October traded at $71.87 a barrel at 0653 GMT, up $0.24 in the Globex electronic session. October Brent crude on London’s ICE Futures exchange rose $0.36 to $72.74 a barrel.
Crude prices have fallen nearly $10 a barrel in just over two weeks following weaker equities and a stronger U.S. dollar amid growing doubts about the strength of the global economic recovery. While the bearish undertone prevails, analysts say crude might be set up for a technical bounceback in the near term with strong support around $70 a barrel.
Binary Options Daily Review August 24, 2010
Stocks:
U.S. stocks finished in the red for a third straight day as salient economic concerns weighed on the market, overshadowing excitement over a slew of recent acquisitions.
The Dow Jones Industrial Average finished down 39.21 points, or 0.4%, at 10,174.41, after gaining as much as 91 points in intraday trading. The Nasdaq Composite Index slipped 0.92% to 2,159.63 while the Standard & Poor’s 500-stock index fell 0.4% to 1067.36.
Economists are expecting the US government’s estimate of 2.4% economic growth for the second quarter to be cut to 1.2% when it is released Friday, which would represent a clear slowdown from earlier in the year.
Currencies:
While remaining in range to break lower, the USD/JPY has most recently halted its slide at 85.00 where it commenced to pull back slightly. So far, the pair is trading back up around 85.10 where it seems to be finding modest resistance to climb any higher.
After opening the week facing a 35-pip downside gap, AUD/NZD managed to regain over 70 pips on Monday. The Aussie was able to fill the opening gap and reached an intraday high at 1.2643 against the Kiwi during the European session.
However the AUD/NZD retreated somewhat and closed around 1.2600 in the last hours of trading Monday and continues to move horizontally into a tight range between 1.2574 and 1.2615 during the current Asian session.
Commodities:
Gold retreated for a third day as an advance in the dollar curbed demand for commodities, including precious metals.
Gold for immediate delivery declined 0.5 percent to $1,220.55 an ounce at 10:46 a.m. in Singapore. December-delivery futures fell 0.5 percent to $1,222.20 an ounce.
While gold is up 11% in trading this year the precious metal is expected to pare any further gains as demand for stocks, commodities and energy thin.
Binary Options Daily Review August 20, 2010
Stocks:
U.S. stocks fell Thursday as disappointing data on the jobs market and regional manufacturing added to doubts about the recovery, dampening enthusiasm that came with Intel Corp.’s $7.7 billion deal to acquire McAfee Inc.
The Dow Jones Industrial Average closed down 144.33 points, or 1.4%, to end at 10,271.21, with all 30 components in the red for the day. The blue-chip average’s loss broke two straight days of gains.
S&P 500 (1 Year)
Currencies:
Australian Dollar has lost momentum from gains Monday and Tuesday as the pair’s retreat from a 0.9080 high accelerated yesterday after rejection at 0.9020, and the pair dropped more than 100 pips lower, to find support at 0.8885, close to Monday’s low of 0.8860.
On the downside, immediate support lies at the mentioned 0.8885, and below here, 0.8860 (Aug 16 low) and then 0.8740 (Jul 21 low).
On the upside, resistance levels lie at 0.8925/35, and above here, 0.9015 (Aug 19 high) and then 0.9050.
Commodities:
Crude-oil futures finished Thursday at their lowest price since July 7 as the day’s round of macroeconomic reports showed the U.S. economy is poised to grow at a slower pace than earlier this year.
Prices had opened higher but turned lower after a Labor Department report showed a nine-month high for U.S. jobless claims. Oil dipped further after data showed manufacturing activity slowing in the Philadelphia area and a slow rise for the Leading Indicators Index.
Binary Options Daily Review August 19, 2010
Stocks:
U.S. stocks closed higher Wednesday as retailer Target Corp. signaled that it could meet Wall Street’s profit expectations through the end of the year.
Currencies:
The dollar remained even against the euro on Wednesday, but maintained losses against the British pound after minutes of the Bank of England’s latest policy meeting dispelled worries that the central bank may be considering further easing measures.
Commodities:
Gold futures shot up wednesday to a seven-week high. Gold for December delivery added $3.10, or 0.3%, to $1,231.40 an ounce on the Comex division of the New York Mercantile Exchange.
Oil futures ended lower Wednesday, now at a six-week low. Oil futures for September delivery retreated 35 cents, or 0.5%, to $75.42 a barrel, keeping above $75 a barrel after trading as low as $73.75 earlier in the day.
Binary Options Daily Review August 18, 2010
Stocks:
U.S. stocks rallied Tuesday, with the Dow Jones Industrial Average ending a five-session losing streak and rising 103.84 points, or 1%, to end at 10,405.85.
BHP in the news
Potash Corp. of Saskatchewan Inc.’s rejection of suitor BHP Billiton Ltd. unleashed a rally among agricultural companies and retailing giant Wal-Mart Stores Inc.’s earnings topped estimates.
Currencies:
The U.S. dollar declined against the euro on Tuesday, with the euro finding support after an auction of Irish government debt garnered solid demand. The euro rose to $1.2887, up from $1.2813 in late North American trading on Monday. Last week, the euro fell to a three-week low.
Commodities:
Thanks in part to a weaker dollar, Gold futures closed higher Tuesday, to end at a six-week high. Gold for December delivery ended the New York floor session up $2.1, or 0.2%, to $1,228.3 an ounce on the Comex division of the New York Mercantile Exchange.
The euro bounce had a great affect on Oil futures. Crude-oil futures on Tuesday rebounded from five-week lows to break a six-session losing streak, lifted by a weaker U.S. dollar and rising stocks. Crude for September delivery gained 53 cents, or 0.7%, to settle at $75.77 a barrel on the New York Mercantile Exchange.
Binary Options Daily Review August 17, 2010
Stocks:
U.S. stocks did not make any big moves ahead of the week’s major U.S. economic reports Monday, though negative sentiment about global growth was enough to push the Dow Jones Industrial Average to its fifth day of losses.
Currencies:
Against the yen, the dollar slipped to ¥85.30 from ¥85.33 in late North American trading Monday. Last week, the yen hit a 15-year high against the dollar. The yen weakened slightly in Asia Tuesday after local media reported that Japanese Prime Minister Naoto Kan and Bank of Japan Gov. Masaaki Shirakawa will meet Monday, creating speculation they could move to tackle the yen’s recent strength.
Commodities:
Gold futures settled at a six-week high Monday as economic data proved disappointing, spurring some safe-haven buying, and the dollar fell.
Crude-oil futures settled at a five-week low Monday as it continues to adjust to recent U.S. dollar strength.
Binary Options Daily Review August 13, 2010
Stocks:
U.S. stocks declined for a third straight session as economic warnings from weekly jobs data and Cisco Systems Inc. added to investors’ concerns about a possible double-dip recession.
Currencies:
Yen pulls back against dollar. The yen fell against the dollar in Asia Friday after Japanese officials hardened the tone of their comments on the currency market, but the safe-haven yen could rise sharply later in the global day if upcoming U.S. data deepen concerns about the health of the country’s economy.
Commodities:
Gold at six week high. Gold futures closed at a six-week high Thursday as disappointing U.S. jobless-claims data added to investors’ jitters about the health of the global economy.
Oil to one month low. Crude-oil futures settled at a one-month low Thursday, falling for a third straight session as global economic worries dragged equities and overshadowed energy trading, and as the dollar remained strong.
Binary Options Daily Review August 12, 2010
Stocks:
U.S. stocks suffer biggest drop since June. Broad declines in U.S. stocks Wednesday as signs of weakening growth in China exacerbated fears about a global economic slowdown. The Dow Jones Industrial Average tumbled or 2.49%.
Currencies:
USDJPY at 15 year low. Fears about global growth prospects helped send the Japanese yen to a 15-year high versus the U.S. dollar on Wednesday, while fueling strong gains by the greenback against other the Euro and other currencies as investors sought safe havens.
Commodities:
Gold edged higher Wednesday but settled less than a dollar short from the key psychological $1,200-an-ounce mark as a rising dollar kept a lid on gains. Gold for December delivery, the most active contract, added $1.20, or 0.1%.
Crude-oil futures fell to a two-week low on Wednesday, hit by more signs of weakening in the U.S. economy, sliding U.S. stocks, and a government report showing large increases in gasoline and distillates inventories.
Binary Options Daily Review August 11, 2010
Stocks:
U.S. stocks fell Tuesday. The Dow Jones Industrial Average dropped 54.50 points, or 0.51%, its biggest one-day drop since July 21. Intel (Nasdaq) was the measure’s worst performer with a drop of 83 cents, or 4%, to 19.82.
Currencies:
The euro fell to a three-week low against the yen in early Wednesday as remarks from Federal Reserve officials overnight fueled worries over the outlook for the U.S. economy. This prompted U.S. banks and short-term traders to buy the yen.
Commodities:
Gold futures settled below $1,200 an ounce Tuesday, settling onto their lowest price in a week.
Crude-oil futures fell Tuesday on a strengthening dollar. Crude oil (September futures) lost $1.23, or 1.5%, to $80.25 a barrel on the New York Mercantile Exchange.
Binary Options Daily Review August 10, 2010
Stocks:
U.S. stocks rose modestly on Monday as Wall Street awaited the outcome of the Federal Reserve’s policy-setting meeting in the wake of recent economic reports that signal a slowing recovery.
Currencies:
The U.S. dollar edged higher on Monday, as traders awaited this week’s meeting of the Federal Reserve. The euro descended to $1.3226, down slightly from $1.3277 late Friday.
Commodities:
Gold futures closed lower Monday, reversing course as the dollar strengthened modestly and undercutting early gains.
Crude-oil futures rose Monday, tracking U.S. equities and shaking off Friday’s weakness.
