Binary Options News : May 15, 2013
Euro Down on Weak Data, Nikkei past 15,000
The Euro continued to decline in Asian markets overnight after the release of disappointing data from Europe and France and Germany in particular – highlighted the fragile economic growth in the eurozone.
Yesterday saw Germany’s gross domestic product increase by a less than expected rate in the first quarter of 2013, adding 0.1% after registering a 0.7% decline in the previous quarter. This disappointed the markets and sent the Euro lower after analysts had been expecting the German GDP to increase 0.3% in the first quarter of 2013. On a yearly basis, Germany’s GDP contracted by 1.7%, which was considerably lower than the 0.2% expected by analysts, after the 0.1% increase recorded in the fourth quarter.
Helping push the Euro down to a 5 week low against the USD was the release of France’s GDP which showed a decline 0.2% in the previous quarter after a 0.2% decline was recorded in the fourth quarter and after analysts had forecast a 0.3% increase. This puts France into recession, which was partly blamed on a ‘severe winter’ hampering growth
Grabbing the headlines in the stock markets was Japan’s Nikkei 225 gaining more than 2% and passing the 15,000 mark for the first time since the beginning of 2008. Fueled by a weaker Yen, the Nikkei 225 closed 2.295 higher while most Asian indices closed higher also. Hoing Kong’s hang Seng Index closed 0.64% higher, whilst a decline in mining stocks hurt the Australian S & P – closing 0.81% down.
After a subdued start to the week in the currency markets, volume levels have been picking up with the USD reversing earlier losses and weak data sending the Euro down. The EUR was 0.09% down against the USD and down 0.15% against the GBP. The greenback also made healthy gains against its commodity linked cousins of the CAD – up 0.27% and the AUD – up 0.29%.
A strengthened USD and some strong profit taking ensured there were losses across the board in the commodity markets. Gold was down 0.8% and Silver dropped 1.55% as investors cashed in on recent gains. Cold weather forecasts failed to raise the Natural Gas price – but only 0.02%, this was the steadiest of the commodities with Crude Oil down 0.45%.
A very busy day of trading ahead with a full economic calendar to drive markets in the Eurozone, UK and in the US later in the day. Plenty of key data released and with volume levels rising as the week progresses, makes today a potentially very strong day of profitable binary trading ahead.
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