07/11/2012
The Greek Govt toady may determine whether the country receives more financial aid the votes is for further 13.5 billion in spending cuts including tax increases and pension cuts
EUR USD 4 hrs
All eyes on the Presidential election
US markets finished down 1%
Friday, wiping out the previous session's gains, despite a better-than-expected
government jobs report (non-farm payroll) and amid nervousness ahead of next
week's presidential election.
US markets initially rallied
after a better than expected non-farm payrolls report. Employers added
171,000 jobs in October, while the unemployment rate inched up to 7.9%,
according to the Labor Department. Gold slid 2%, to settle below $1,680 an
ounce for
the first time in about two months as non-farms report lowered expectations for
economic stimulus provided by global central banks.
What this means for
Binary Traders
US markets were confused on
Friday as buyers tried to take control due to the positive NFP report, yet
sellers ended up ruling the day. This is a pure example of markets expectations
shifting from economic data to a political event.
As the election comes to an
end on Tuesday investors were not willing to become bulls.
Heading into the new week we
may see significant volatility as analysts begin to release expectations on
whom they believe will win the election which could cause major volatility
within the entire market.
Binary traders need to take
full advantage of this history in the making week.
Assets that may be
affected
We saw significant volatility
in both the currency and commodities markets last week due to a raft of
economic data which was released. This week the key assets to keep an eye on
are the Dow Jones, USD/JPY and Gold. We have already seen major movements in these
assets as Gold fell to a two month low and USD/JPY rallied to a four month
high. Market expectations are mixed heading into presidential election climax.
Though one thing is certain,
it will be a HISTORY IN THE MAKING!
European share close
higher after US jobs data
We know US markets closed
sharply lower on Friday. European markets closed higher due to the NFP
report. Data released from the US and Europe suggested some stabilization in
the global recovery trend, particularly in the world’s top two economies the US
and China. As a result the Athens Stock Exchange closed sharply higher,
after six consecutive days of losses. Spain's IBEX index also closed
higher.
What this means for
Binary Traders
It was a good set of numbers,
but according to many analysts there could be a lot more growth and more jobs
if companies felt a little more at ease with the economic outlook. We can see
that earnings in both Europe and US have been disappointing and there’s no
reason for corporations to think things are going to be different if there’s
still political uncertainty.
The positive NFP figures are
undoubtedly a welcome report for the European market. Due to the current
uncertainty within the euro zone, a positive jobs report shows a potential
rebound in US employment, which subsequently has a positive effect on Europe. Heading
into the new week we may see the European markets follow a similar trend to the
US due to the presidential election coming to a climax. We are sure for another
blockbuster week.
Assets that may be
affected
Volatility may be set to
continue this week after the rollercoaster ride we went through last week. The
key assets to keep an eye on for today are the EUR/USD and FTSE 100. EUR/USD
fell significantly last week due to the growing uncertainty over the euro zone
though we saw a continued bearish move even market NFP on Friday. The FTSE 100
was mixed as negative earnings weighed on European markets however the positive
NFP provided a new lease of life for the major. Heading into a new week
we may see continued volatility in these assets, though the million-dollar
question is which way will the markets go?
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