Binary Options News : July 30, 2012

Asia

Asian trading on Monday saw Hong Kong’s Hang Seng Index gain 1.49%, South Korea’s Kospi Index rise 0.6% Australia’s S&P/ASX200 increase 0.82%, whilst Japan’s Nikkei 225 Index gained 0.54% as speculation mounted that the ECB will implement a bond buying scheme to bolster Spanish banks and prevent the debt crisis worsening.

Europe

Prompting the purchase for stocks was German Chancellor Angela Merkel and Italian Prime Minister Mario Monti issuing a joint statement in which they stated  they will do “everything possible to protect the eurozone” This echoed remarks from French President Francois Hollande and European Central Bank (ECB) President Mario Draghi and increased speculation that the ECB could resume its programme of buying up Spanish bonds, causing Asian stocks to advance for a third consecutive day.

In Japan, industrial production in fell surprisingly last month with the Ministry of Economy, Trade and Industry reporting that industrial production dropped to a seasonally adjusted -0.1% in June from -3.4% in May. Analysts had expected industrial production to rise 1.5% last month but the news was mostly shrugged off by investors whose focus is on the possible stimulation measures to be implemented by both the US and EU.

US

Last week, The US reported that its economy grew 1.5% in the second quarter of this year, and while in line with expectations, the figure did suggest the economy may need a jolt from the Fed, possibly via quantitative easing.

International

Today, US Treasury Secretary Timothy Geithner will meet German Finance Minister Wolfgang Schaeuble before flying to Frankfurt to meet Mario Draghi with interest rates and monetary policy hot topics for discussion.  Today is an important day for Europe and binary traders should watch the Euro for increased volatility with Italian auctions of three, five and ten year bonds. Also there is the release of the first estimate of whether Spain’s economy grew or contracted in the three months from April to June.

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