Daily Binary Options – Markets Await Key U.S Unemployment Data

Equities:
A day after global markets rallied, equities managed to hold on to their gains, but not much more than that. The Nikkei followed the Dow’s rally Wednesday and added 135pts to finally close back above  the 9,000 mark by 62pts. European markets traded flat as the FTSE 100 added 4pts to to close at 5,371, while the Stoxx Europe 50 lost 3pts to finish the U.S session at 2,510. In the U.S, the Dow Jones Industrial Average added 20pts to close at 10,289. It was the DJIA’s third consecutive win and the first time it has done so in more than one month. Consumer Cyclicals lead the way higher gaining 0.88% while 173 stocks made new 52 week highs and only 11 made new lows.

Commodities & Treasuries:
Copper continues to trade in a very bullish pattern as it gained a little better than $1 to close the U.S session at $348.75. Oil rallied hard for a second day, gaining nearly $1 to close just south of $75 a barrel. Gold reversed Wednesday’s loss after gaining better than $6 an ounce to round out the U.S session at 1,251.35. Treasury yields on the back end of the curve continue to rise as traders put more risk back on the table. The U.S treasury 10-yr yield jumped to 2.63% and the long bond rose to 3.727%. German Bund yields rose on the ECB’s forecast of faster growth as GDP beat economist’s forecasts.

Currencies:
The Dollar lost a little more ground yesterday as risk was back on across the broader market.  The EUR remained just a hairs breadth above it’s 50 day moving average to close at 1.2810. The GBP dropped 65 pips to fall back below the 50 day moving average and close at 1.5385. Traders are keeping a watchful eye on the JPY as the ‘risk off to weak JPY correlation’ has been inconsistent the last several days with the JPY holding firm at spot 84.18. A day following the CHF’s attempt at Dollar parity the, CHF made a modest advance on the Greenback to finish the U.S session at 1.0140. Commodity currencies were mixed with the AUD and CAD giving back to the USD while the NZD advanced.

CHF Race To Parity

CHF Race To Parity

Economic Outlook:
Swiss GDP printed better than analyst’s expectations, coming in at 3.4% versus 2.6%. In addition Swiss Retail Sales grew at 4.8%. Euro-zone GDP beat economist’s forecasts by 0.2% as it printed at 1.9%. The ECB as expected left key interest rates unchanged at 1.0%. In the U.S Jobless Claims printed in line with expectations. The big surprise on the day was Pending Home Sales smartly beating forecasts at 5.2%. All attention today will be focused on Non-Farm Payrolls and the Unemployment Rate in the U.S. Coming on the heels of the recent rally a positive print here could make for some very significant price action, while a surprise to the down side may see markets wiping out prior gains.

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