Another day of flight for most major markets
Binary traders are quick to take advantage as the down side prevails
Another massive sell-off keeps the market busy on the short side. The Dow Jones dropped 520 points its lowest level since September 2010, while Treasuries continued to gain. With the dollar gaining value against 13 of 16 major currency pairs, most feel the greenback remains a safe haven asset. Concerns of inflationary pressures in China pulled down Asian shares as well, with Hong Kong’s Hang Sang Index down 1.5%. Crude oil was off another 0.6% while gold futures flirted with $1,800 an ounce to close at $1,790.
French bank shares collapse – will the ECB intervene?
French bank shares were in a tailspin on rumors of a credit downgrade to France’s triple-A rating, a move which would directly affect the financial sector. SocGen was trading down as much as 20 percent before closing down 14.7 percent. Barclays was the worst hit among the UK banks closing down 8.7%. Keep an eye out for US International Trade and Jobless Claims to hit the wires at the start of today’s US market opening (8:30am EST, 1:00pm GMT).
Trade the News: Today’s Key Economic Events
2:30am AUD – Employment change Change in the number of employed people during the previous month; This is vital economic data released shortly after the month ends. As of publication the numbers came in at -0.1k versus expectations of 10.2k, a negative for the Aussie currency.
1:30pm USD – Trade Balance Difference in value between imported and exported goods and services during the reported month; A positive number indicates that more goods and services were exported than imported; Expectations are for the numbers to come in at -47.9 Billion a slight improvement over the -50.2 Billion in the prior period.
1:30pm USD – Unemployment Claims Another high impact piece of US economic data, showing the number of individuals who filed for unemployment insurance for the first time during the past week; Expectations are of 401k versus 400k last period.
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Trade the EU Economic Summit with Binary Options
Binary Options is not the best, but the only way to trade the markets when breaking news is concerned. To make profit, the trader needs to be alert to shifts in the global financial arena and to know what events are going to shake the markets.
An event that is due to shake the market and shape the near and far future is the emergency summit of European leaders in Brussels, 21st ofJuly 2011.
European leaders will meet to discuss the “Common Currency Crisis” and the main point of this meeting is the debt crisis. There is a consensus to come up with at least the framework of how Greece is to avoid defaulting on its debts and how the country is to be bailed out if needed. The looming threat is the spread of this crisis to Italy, Spain, Ireland, Portugal and other European countries. US and the rest of the world are all holding their breath for this summit, as a significant deterioration in Europe would cause a general increase in risk aversion, declining asset prices and a lot of volatility in markets; not to mention direct exposure.
What is crucial here is, that for the first time ever, the very survival of the Euro could be at stake.
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Binary Options Stock Trading News – 23rd June 2011
Binary Options Market News
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European binary options shares fell to a fresh three-month closing low on Thursday, as higher-than-expected weekly U.S. jobless claims intensified worries about the strength of the recovery in the world’s biggest economy.
Greece’s debt crisis also hurt sentiment, though strategists said more clarity on a funding package might help spark a rebound in equities.
The FTSEurofirst 300 index of top European shares unofficially ended the session 1.5 percent down at 1,075.21 points, the lowest close since mid-March.
The banking sector, exposed to Greek debt, was the biggest casualty, with the STOXX Europe 600 Banking Index falling 2.7 percent.
“There’a lot of nervousness, and fragility, on slowing growth issues and whether this will hurt the earnings outlook,” said Bill Dinning, head of investment strategy at Aegon Asset Management in Edinburgh, which has 48.8 billion pounds under management.
But he said equities might rebound, supported by “valuation measures that are not particualrly frothy” and “if there were some clarity about whether Greece’s austerity measures will be passed”
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Binary Options Indices Trading Report – 12th June 2011
Binary Options Market Review
Market Update for Binary Options Forex and Commodities Traders
Don’t be surprised if Wall Street racks up a seventh consecutive week of losses as the likelihood of more poor economic data and other disconcerting binary options signals outweigh any thoughts that stocks are cheap.
After closing at its highest level in nearly three years on April 29, the S&P 500 has tumbled nearly 7 percent on the back of a barrage of soft economic data, sparking the debate over whether the economy is headed for a double-dip, or has merely hit a soft patch in its recovery.
The benchmark S&P 500 recorded its sixth straight weekly decline on Friday and volume has picked up, as it typically does, on down days. Another week of selling will mark the longest stretch of weekly losses for the index since 2001.
Red flags, including ugliness in the junk bond market, options activity and the ease with which support levels have been broken suggest more selling ahead.
“You have to be realistic. You’ve got to have some sort of correction to go into this marketplace just for the healthiness of the market,” said Cliff Draughn, president and chief investment officer at Excelsia Investment Advisors in Savannah, Georgia.
As stocks have declined, both investment-grade and high-yield risk premiums in the bond market have slumped as investors sought safe-haven assets.
That’s troublesome since the stock market often moves in sympathy with the junk bond market because rising borrowing costs crimp corporate profits.
The CDX HY16 North America index for high-yield bonds, which conversely falls as risk appetite decreases, closed below par for the first time this year on Wednesday. The CDX IG16 North American investment grade index, which investors use to hedge against bond losses, hit its highest level since November 30, according to Tradeweb.
In another signal of skittishness about the binary options market’s footing, Ally Financial, an auto and mortgage lender majority owned by the U.S. government, delayed a $6 billion IPO due to bad market conditions, two sources familiar with the situation told Reuters.
DATA BLITZ AND QUADRUPLE WITCH
Stocks have also been easily passing through technical support levels, with the S&P 500 most recently taking out the April 18th low of 1,294.70, leaving analysts to eye the 1,250 level as the next area of support.
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Binary Options News: All Eyes on the Opec Countries – 9th June 2011
Binary Options News
Market Update – Binary Options
Saudi Arabia must perform a high-stakes tightrope act in the second half of this year: pump just enough extra oil to meet a seasonal rise in demand, but not so much that it calls attention to a thinning cushion of spare capacity. For Binary Options traders it is a commodity worth watching
Following an extraordinary failure of the Organization of the Petroleum Exporting Countries to agree to raise output, the world will now rely on Saudi Arabia to meet a more than 2 million barrels per day (bpd) rise in oil demand between the low-demand second quarter and the peak summer third quarter.
The kingdom has thus far managed to bear the strain of filling a gap left by Libya, but with raging civil war likely to keep Libya’s oil wells idle for months longer, the world’s top exporter will be put to the test in the next few months, which is something likely to be beneficial to binary options commodities traders.
The result should be more than enough crude for the world’s refiners, provided Saudi Arabian oil minister Ali al-Naimi keeps his pledge to pump more oil regardless of the acrimonious end to a meeting he described as the “worst ever”.
But as a result, OPEC as a whole will draw down its “spare capacity” — the cushion of excess supply that it can ramp up at short notice to meet supply gaps or demand spikes — to the lowest since 2008, when oil surged to almost $150 a barrel.
That dwindling reserve, which stood at a hefty 5-6 million bpd at the start of 2011, threatens to leave the binary options market at risk of further price spikes regardless of how well it is supplied. Without the return of Libya, spare capacity could fall to just 3 million bpd by year’s end.
It may fall to as low as 2 million bpd by 2012, likely forcing traders to factor a greater “fear premium” into prices. At less than 2.5 percent of global demand, that cushion is razor-thin by historical standards.
JP Morgan’s head of energy research, Lawrence Eagles, said it highlighted that OPEC had been surprised by the strength of demand, which is up by around 5 percent since the depths of the recession in 2009.
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Binary Options News: Weak US Jobs Data Jolts Global Stocks and US Dollar – Hot Picks 5th June 2011
Wall Street capped off a fifth straight week of losses on Friday and Treasuries rose as much slower-than-expected U.S. job growth stoked fear that the world’s largest economy was in a protracted slowdown.
The euro hit a one-month high against the dollar on news international aid would be available to Greece as early as July, while the U.S. jobs data hurt the greenback against the yen.
Oil prices traded off their lows after the Institute for Supply Management said the U.S. services sector staged a modest recovery last month from April’s slump.
But that was not enough to dispel entirely the unease stoked by the U.S. Labor Department’s monthly report, which showed the economy added the fewest jobs since September.
The jobless rate rose to 9.1 percent in May as high energy prices and the effects of Japan’s earthquake bogged down the economy.
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World Stocks & Euro Rise as Greece Makes Progress – Hot Picks 2nd June 2011
World stocks hit a three-week high while the euro rose to its highest in a month on Wednesday in a return of risk appetite prompted by expectations of progress on austerity steps and financial aid for Greece.
A Greek newspaper said Greece and an international team inspectors are set to conclude talks in Athens on a medium-term fiscal plan by Thursday. Uncertainty remained on whether private sector debt holders would participate in helping ease the country’s debt burden.
Data showing a manufacturing slowdown in China and the euro zone helped limit gains as investors remained cautious ahead of the end of the Federal Reserve’s $600 billion bond-buying program this month.
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Binary Options News – Oil Up to Over $1 on Tuesday. – Hotpicks 1st June 2011
Oil rose over $1 on Tuesday with Brent crude above $116 a barrel as the dollar weakened on improved prospects for a bailout for heavily indebted Greece, but oil remained on track for an overall fall in May.
The euro rose to a three-week high against the dollar as the European Union raced to draft a second bailout package to release loans next month for Greece, and the Wall Street Journal reported that Germany could make concessions on efforts to put together a bailout.
Brent crude futures were up $1.72 a barrel to $116.40 at 5:56 a.m. EDT, and U.S. crude was up $1.75 a barrel to $102.34. London and New York were closed on Monday for public holidays.
Binary Options News – Dollar struggles near 2-week lows. 30th May 2011
Binary Options News
Market Update – Binary Options Trading
The dollar hovered near a two-week low against a basket of currencies in the Binary Options Market on Monday and Asian stocks were pinned in tight trading ranges as weak U.S. economic data and fears of a Greek debt default kept many investors on the sidelines.
European binary options related stocks were also set to dip, tracking weakness in Asia, but trading was expected to be thin with holidays in the United States and the UK.
European Union and IMF officials are likely to deliver their verdict this week on Greece’s faltering drive to bring its budget deficit under control.
Compounding euro zone debt woes, a government minister in Ireland said it may have to ask for another loan from the EU and IMF because it will struggle to return to debt markets to raise funds next year.
On the binary options market, the euro fell to $1.4263, having pulled back from resistance near $1.4327, its 55-day moving average.
The single currency, which has bounced off of a two-month low of $1.3968 hit a week ago on trading platform EBS, also faces resistance near $1.4369, the top of the cloud on the daily Ichimoku chart, a technical analysis tool popular among traders.
Against a basket of currencies the dollar was trading near the 75 line, just shy of a two-week trough hit in the previous session. This can be viewed by funding your StartOptions account and receiving daily market updates.
A batch of weak data has also raised questions on whether the U.S. economic recovery is faltering, raising expectations that authorities may keep interest rates at zero well into 2012, undermining the dollar’s appeal. In depth market data can be obtained here
Traders are also awaiting global manufacturing data on Wednesday for any signs of a slowdown in the world economy.
While Asian stocks have floundered in recent months, the appeal of fixed income assets has grown as regional central banks look set to keep raising interest rates to tackle inflation.
Year-to-date volumes of $47.4 billion in bonds sold in dollars, euros and yen from Asia ex-Japan, ex-Australia is already more than half of $83.6 billion transacted in all of 2010. Morgan Stanley projected that at the current pace the annual tally could end up in excess of $100 billion. Click here to register and receive daily market reports
London-listed Indian mining company Vedanta Resources last week priced $1.65 billion worth of five- and 10-year bonds, which marked the largest high-yield bond out of Asia.
That bullishness in the binary options market hasn’t been restricted to such bonds only.
Local currency debt have also emerged as a favorite for after January’s selloff with net foreign ownership in Indonesian rupiah bonds rising to a record.
Measured in dollar-adjusted terms, total returns for HSBC Asia’s U.S. dollar bond index is three percent on a year-to-date basis, according to Thomson Reuters data.
Its local currency bond binary options index counterpart has delivered 2.5 percent while MSCI’s index of Asia-Pacific shares outside Japan is up about 1.5 percent.
While credits had yet another roaring month, equity indices across the region were mostly down in May, led by Chinese shares which are set to post a 7 percent drop.
For the day, Japan’s Nikkei and Australia ended down 0.2 percent and 0.4 percent, respectively, while the MSCI index of Asia Pacific stocks outside Japan bounced slightly after falling for five consecutive weeks.
Southeast Asian markets were the clear outperformers with Malaysia and Indonesia among the binary options market leaders, posting marginal gains for the month, as authorities demonstrated a greater urgency to tackle rising prices after an inflation scare in January.
“In the past these (Southeast Asian) markets were very susceptible to inflationary pressures, but due to better economic management, they are not so much of a hot potato for investors nowadays,” said Khiem Do, chairman of Asia multi-asset team at Barings Asset Management in Hong Kong.
“As long as North Asia continues to trade binary options in a range and is dogged by inflationary pressures, these markets will continue to benefit,” he said.
Elsewhere in markets, U.S. Treasury bond yields held near six-month lows, with 10-year yields at 3.07 percent compared to 3.29 percent at the start of the month.
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