Binary Options News : June 19, 2013
Nikkei Boosted By Strong Exports
Despite many investors adopting a wait and see attitude towards trading ahead of the conclusion of a key two day Federal reserve policy meeting, there was plenty of high volatility in Asian markets, as other investors reacted to strong data from Japan, or took up positions in readiness for the Bernanke press conference later in the day.
Asian stocks were generally mixed to higher, lead by Japan’s Nikkei 225, which rose by nearly 2% on news that Japanese exports jumped 10.1% from the previous year, showing a strong indication that Prime Minister Shinzo Abe’s plan to revive the Japanese economy – the world’s third largest – appears to be working. This was the highest export rise since 2010 and despite a trade balance deficit of 993.9 billion yen, Shipments picked up in key markets, such as the US – up 16.3%and China up – 8.3%.
The caution in the market was not see in Japan with Japan’s Nikkei 225 ending the session 1.98% higher on the export news. Australia’s ASX /200 Index closed 1% higher as gains in mining stocks boosted the Australian exchange. However, for much of the rest of Asian markets, there were pre-fed losses with Hong Kong’s Hang Seng Index 0.39% lower.
Pre Fred caution meant many investors moving out of the USD which was lower against most of counterparts without any real significant declines. The Fed focus saw the USD fall 0.09% against the EUR, 0.04% against the GBP, 0.04% against the AUD and 0.19% against the JPY. The US Dollar index was down 0.10%.
The weakened USD and Fed focus helped push Gold up 0.06% whilst profit taking in Silver saw a decline of 0.23%. Crude Oil extended gains, rising 0.47% in Asian trading as an escalating Middle East conflict and inventory data pushed the price ever closer to the $100 a barrel mark, and was currently $99.13.
European indices indicate a higher opening this morning with most attention turning towards the US press conference at the end of a two day policy meeting held by Ben Bernanke and the US Federal Reserve. Keen eyed binary traders will also look for the Monetary Policy Meeting Minutes released in the UK and the outcome of a German 10 year debt auction to inspire increased volatility.
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