GBP Hits New Lows

Binary Options News : January 29, 2013

binary options news caricature the british pound is downGBP Hits New Lows

The British Pound came rallied slightly in Asian trading, up 0.06% at time of writing (5.53am GMT) after hitting new lows in yesterdays trading. The British pound dropped to a 13 month low against the euro and 5 month low against the U.S. dollar as investors continued to ditch the GBP on concerns that the Bank of England could ease monetary policy again over the next few months.

generally the Asian markets traded higher as traders were encouraged by additional signs that the U.S. economy is recovering. The Commerce Department in the US announced that durable goods orders rose 4.6% last month and core durable goods orders increased 0.2%. Meanwhile, The National Association of Realtors said its index for pending home sales fell 4.3% in December from November to 101.7 which is still almost 7% higher than the December 2011 reading.

The Euro continued a gentle decline from yesterday when a report published by the European Central Bank said M3 money supply in the single currency bloc rose at annualized rate of 3.3% in December, below expectations for a 3.9% increase. M3 money supply in the euro zone rose 3.8% in the previous month.

Stocks

Asian stocks were generally higher ion overnight trading, gaining the most in over a week as reports signaled improving business confidence in the region and orders for U.S. durable goods topped estimates. Japan’s Nikkei 225 closed 0.62% higher. Australia’s S&P/ASX 200 Index added 1.1% after the market there reopened following a three-day weekend. South Korea’s Kospi jumped 0.84% after the index of manufacturing expectations for February rose to 72 from 70 in January.

Commodities

commodities traded higher as signs of economic recovery in the world’s largest economy – the US – boosted demand for Copper – up 0.51% and Crude Oil – up 0.41% The sell off in Natural Gas continues, falling 0.7% in Asian trading. Gold and Silver both saw gains with Gold rising 0.52% and Silver rising 1.01%.

Currencies

The currency markets did not see the large fluctuations that were seen in the stock and commodity markets. The largest mover was the AUD/USD – up 0.24% as Australia’s business confidence index climbed to 3 last month from negative 9 in the previous month.

Today’s Outlook

With no U.K. economic reports, scheduled for release today, the downtrend in the GBP should remain intact. An expected increase in the Gfk German Consumer Climate may well provide a boost to the Euro. Later on in the day Gas and Oil stock inventory figures will be released in the with a fall expected in the Oil stocks but a rise in Gas stocks.

 

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Disclaimer: The opinions expressed in this article are not necessarily those of OptionsClick, blog.optionsclick.com, OptionsClick.com or any of its staff. The contents of this article are in no way intended to be advice or any other form of counsel for any trader of binary options or any other investor. Please be advised: Investing of any kind always carries a relative risk. As with any market trading, it is always possible to lose your investment. Always be sure to do your own research, seek professional advice, and make your own, well-educated decisions when it comes to financial investments. For more about binary options trading, visit www.OptionsClick.com

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Bottom Feeders Halt Slide

binary options news cartoon the taliban agree nato should leave afghanistanThe slide in stocks across the globe was put to a halt in Asian trading as the bargain hunters came out in force to snap up nicely priced shares. Early Asian trading this morning saw Hong Kong’s Hang Seng Index increase by 1.01%, Australia’s S&P/ASX200 gained 0.68%, whilst Japan’s Nikkei 225 Index was up 1.03% at time of writing (4.38am GMT). Fueling the appetite for risk was hope that Europe will find a way to keep Greece in the Eurozone after Germany and France declared they would do everything necessary to keep Greece in the single currency zone. Also providing hope was Japan showing signs of possibly weakening the Yen to boost exports and Chinese Premier Wen Jiabao expressing the need to stay with a “proactive fiscal policy and a prudent monetary policy”.

The bargain hunters ignored Japan’s All Industries Activity Index, which fell 0.3% in March from February, a fall that was worse than market expectations, as the Yen posted a moderate decline against the USD – down 0.09%, trading at 79.37. The bottom feeders did however, stay away from the Euro, despite encouraging talk from the G8 meeting at the weekend. The EUR/USD was down 0.26%, trading at 1.2785 as the USD made gains against most major currencies – up 0.13% in Cable and up 0.24% against the Swiss Franc. The US Dollar index was up 0.17%, valuing the USD at 81.23 against a basket of 6 weight currencies.

Also grabbing the eye in Asian trading was shares in recently launched Facebook closing 11% down on its launch price fueling analyst talk that the shares were overpriced and concerns that the newly listed company will be able to live up to expectations.

Today, investors should spend the morning seeing what comes from the UK as a raft of economic data is released from 9.30am GMT onwards affecting the GBP, whilst later in the afternoon, eyes should be on the US as data released there includes the key indicator existing home sales 3pm GMT.

 

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Disclaimer: The opinions expressed in this article are not necessarily those of OptionsClick, blog.optionsclick.com, OptionsClick.com or any of its staff. The contents of this article are in no way intended to be advice or any other form of counsel for any trader of binary options or any other investor. Please be advised: Investing of any kind always carries a relative risk. As with any market trading, it is always possible to lose your investment. Always be sure to do your own research, seek professional advice, and make your own, well-educated decisions when it comes to financial investments.

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Stocks Down On Chinese Growth

unhappy china tv business anchor reports about the binary options trading news

Binary Options News Anchor Stuggles To Hide His Emotions

Stocks and Indices were down in Asian trading as China announced a lower-than-expected Gross Domestic Product growth target for 2012 of 7.5%. Last year, China’s GDP (the annual economic output), increased by 9.2%, whilst in 2010 the gross domestic product increased by 10.4%.  The European recession and slow economic growth globally has reduced demand for Chinese exports and helped contribute to increased inflation which was 5.4% in 2011, higher than the government target of 4%. The target for 2012 was also set at 4%. China having to revise its growth expectations sent stocks down in Asian trading. The Dow Jones was down 0.02%, trading at 12977.57, whilst the Nasdaq fell 0.43%, trading at 2976.19. The biggest declines were seen in Asian stocks with Japans Nikkei 225 down 0.80%, trading at 9698.59, whilst Hong Kong’s Hang Seng Index was down 1.09%.

Commodities showed moderate increases after some mild profit taking by investors. Gold was up 0.06%, trading at 1710.85 a troy ounce and Silver increased 0.48%, trading at 34.690. Gold futures are probably going to test support at Wednesday’s low of $1,689.95, whilst most likely finding resistance at Wednesday’s high of $1,792.15.

The EUR/USD was down 0.08%, trading at 1.3188, following on from negative data released in the Eurozone yesterday. Germany, the economic powerhouse of Europe, announced that retail sales figures decreased by 1.6% in Jan, far worse than the expected 0.5% increase. Spain, suffering from record unemployment levels increased its budget deficit target to 5.8% of GDP for 2012 from 4.4%, all of which contributing to a moderate decline in the Euro against most major currencies.

Today, investors should keep an eye out for increased market volatility on the release of:
9.30am GMT – GBP – service sector growth figures released (previous 56.0, expected 55.0)
10.00am GMT – EUR – Retail sales figures MoM (previous -0.3%, expected 0.0%)
3.00pm GMT – USD – Non-manufacturing PMI (previous 56.8, expected 56.1)

 

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Disclaimer: The opinions expressed in this article are not necessarily those of OptionsClick, blog.optionsclick.com, OptionsClick.com or any of its staff. The contents of this article are in no way intended to be advice or any other form of counsel for any trader of binary options or any other investor. Please be advised: Investing of any kind always carries a relative risk. As with any market trading, it is always possible to lose your investment. Always be sure to do your own research, seek professional advice, and make your own, well-educated decisions when it comes to financial investments.

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