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Binary Options Report (Oct. 31- Nov. 4)
Binary Options Trading analysis written by David Frank - BinaryOptionstrategy
Stocks regained losses in a volatile trading session Friday but still finished lower as investors tried to get a handle on the Euro zone and ahead of a key confident vote in Greece.
The Dow Jones Industrial Average finished lower. The S&P 500 and the Nasdaq also closed lower.
The Euro fell sharply against the US Dollar because of a clear deterioration in domestic fiscal issues. This was underlined by fresh troubles in Greece. The quick fixe to the deeply entranched fiscal problems across the Euro zone were open wide when Greek Prime Minister proposed putting the latest austerity packages to a domestic referendum. This quick about face and short term resolution later show clearly things are no clearer than they were at the start of the week.
Investors seem to have endless reasons to remain bearish the Euro (EURUSD)and other key counterparts. The Euro tumbled on suggestions that Greece could derail weeks of negotiations on the most recent fiscal aid packages. The crisis seems to be averted as Prime Minister Papandreou backed away from plans to put fresh austerity restrictions to a popular vote. Still, it is safe to say, uncertainty reigns as Italian bond yields shot higher and markets remain nervous.
A relatively empty week of Euro zone economic news suggests that volatility could slow in the days ahead. However, the recent price action emphasizes that sharp moves can come on any number of unexpected announcements. The Greek government narrowly passed a no confidence vote. This vote avoided Greece putting itself into further crisis via new elections. Greece is a mere distraction compared to the trouble brewing in Italy. It is safe to day that the lack of confidence in the existing government threatens to put the whole Euro zone at risk.
Oil prices rose Friday as concerns about the European financial crisis were balanced by improving jobs data in the US. Crude rose 19 cents to end at $94.26 per barrel. Gold for December delivery closed down $9 at $1,756.10 at the Comex division of the New York Mercantile Exchange.
CRUDE OIL Chart
AIG tumbled after the insurer missed results following an impairment charge in its aircraft leasing unit. Starbucks gained after the world’s largest coffee chain posted earnings that were better than expected. On the tech front, AMD fell after the microprocessor maker said it is slashing almost 1,4000 jobs. This move comes due to the weak PC market and manufacturing delays.
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