Binary Options Daily Analysis – US Payroll Data Blows Past Expectations

Sep 8, 2011
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Binary Options Trading analysis written by Bradley Welcher


Equities
Asian markets closed lower on Friday ahead of the US’s key non-farm payroll report. The Nikkei slid 1.2% to 8390, with Elpida Memory tumbling 5.4% after Deutsche Bank downgraded the memory maker. The Kospi declined 1.1%, the ASX 200 sank .8%, and the Hang Seng slumped 1.2% to 18593. Bucking the trend, the Shanghai Composite climbed .7%, as banking shares gained.

In Europe, stocks closed mixed despite strong US jobs data. The FTSE rose .5%, while the DAX fell .6%, and the CAC40 slipped .2%.

US markets had a similar close, with the Nasdaq edging up .2%, while the Dow fell 56 points to 12360, and the S&P 500 declined .3%. The VIX fell 4% to 20.63, a sign that investors are growing increasingly calm.

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VIX Continues to Fall

Netflix shares surged 8.6%, extending its weekly gain to 23%, amid rumors of a takeover.

Best Buy shares gained 3.3%, despite reporting a 1.2% drop in same-store sales, thanks to a string outlook.

Treasuries and Commodities
Bonds rose moderately. 10-year notes gained 10/32 toy yield 1.96%, and 30-year notes climbed 28/32 to yield 3.02%.

Crude oil eased .3% to 101.56, while natural gas soared 2.8% to 3.062.

Metals traded mostly lower, although copper rose .3%. Silver sank 2.1% to 28.683, and gold edged down .2% to 1616.80.

Currencies
The Dollar gained against world currencies, as euro-zone fears continue. The Euro and Pound both fell .5% to 1.2724 and 1.5424 respectively, and the Swiss Franc eased .3% to 1.0467. The Canadian Dollar sank .9% to 1.0286, and the Australian Dollar slipped .3% to 1.0228. The Yen managed a slight gain, rising .2% to 76.97.

Economic Outlook
The US economy added 200K jobs last month, far beyond the 152K estimated, and the unemployment rate fell to 8.5% from 8.7%. Despite the upbeat data, some analysts remained skeptical over the economic recovery, attributing the gain to seasonal factors.

Monday’s sole report is consumer credit, which is expected to rise by $7.2 billion.

Alcoa will report earnings on Monday, unofficially kicking off earnings season.