Binary Options News : September 12, 2012

Euro crisis and new iPhones amid active trading day

Equities

Asian markets retreated on Tuesday.  The Nikkei fell .7% to 8807, the Kospi eased .2% to 1920, and the ASX 200 declined .2% to 4325.  In China, the Shanghai Composite snapped its 3-day winning streak, sliding .7% to 2121, while the Hang Seng edged up .2% to 19858, lifted by property shares.

A rally in banking shares lifted European markets, after Deutsche Bank said it would cut costs and sell assets to boost its capital base, rather than turning to the markets to raise capital.   The European banking index jumped 1.9%, and Deutsche Bank shares 4.1%.  The DAX rallied 1.3% to 7310, the CAC40 climbed .9% to 3537, while the FTSE ended flat at 5792.  Burberry shares plunged 21% after warning that sales would be weaker than hoped.

US indexes gained, as the Dow rose 69 points to 13323, its highest close since 2007.  The S&P 500 ticked up .3% to 1434, and the Nasdaq rose fractionally to 3105.

Apple is expected to announce the iPhone 5 on Wednesday.  The company’s shares slipped .3% ahead of the big announcement.

Treasuries and Commodities

10-year notes skidded 12/32 to yield 1.70%, and 30-year notes fell 25/32 to yield 2.85%.

Natural gas surged 6.6% to 2.998,  adding to yesterday’s 5.4% gain.   Crude oil rose .5% to 96.97, and gasoline gained .7% to 2.0445.

Metals closed mixed, as gold inched up .1% to 1732, silver shed .4% to 33.495, and copper ended flat.

Currencies

The US Dollar fell on Tuesday against world currencies.  The Australian Dollar spiked 1% to 1.0433, leading the gains.  The Euro and Swiss Franc rallied .8% to 1.2856 and .9732 respectively, and the Pound climbed .5% to 1.6071.  The Yen gained .7% to 77.73, and the Canadian Dollar edged up .5% to .9732.

Economic Outlook

The NFIB small business optimism index posted a strong gain last month, climbing to 51.8 from 45.6.  The trade deficit widened less than forecast to $42 billion.

Wednesday’s focal point will be Germany’s court ruling on the legality of the permanent European bailout fund, the ESM.

US data will include import prices, wholesale inventories, and crude oil inventories.  No major earnings are reports are scheduled.

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