Binary Options Trading analysis written by David Frank - BinaryOptionStrategy
Markets
Stocks closed in negative territory in thin trading Friday as investors were reluctant to go long ahead of the weekend. This comes amid ongoing worries over the euro zone. The Dow and S&P posted their worst Thanksgiving week since the Great Depression on a percentage basis. The Dow Jones erased gains to finish lower. The S&P 500 and the Nasdaq also ended lower. Both logging a seventh consecutive decline. Some traders are watching for 1,150 on the S&P as the next key level.
DJIA CHART
FOREX
The US Dollar rose to multi-month highs amidst sharp losses in the Dow Jonesand S&P500. The Dow Jones FXCM Dollar Index easily broke the pshych resistance at 10,000 and currently boasts its strongest 20-day appreciation since the height of the financial crisis in 2008. Momentum clearly favors the topside, but traders should be careful of sharp corrections ahead of a critical week for the US Dollar and broader financial markets.
US Nonfarm Payrolls data headlines foreseeable event risk for the world’s largest economy. Traders should be equally mindful of any surprises out of a European finance ministers meeting on Wednesday. Euro Zone tensions hit fever pitch this week as a failed German bond auction caused sell-offs in Spanish and Italian bonds. Italy paid a huge 7.81 percent for 2 year bonds in its most recent auction. This is up substantially from the 4.63 percent frolast month. Standard and Poor’s also aggrevated the Euro Zone’s wounds as it downgraded Belgium’s sovereign credit rating for the first time since 1997. The doom and gloom in Europe was enough to push the US Dollar to significant highs.
EURUSD Chart
COMMODITIES
US crude futures fell on Friday and were on pace to post a loss for the week as concerns about Europe’s debt crisis strengthened the dollar and kept ita focus fears that an economic slowdown will curb oil demand. The price of ICE Brent oil, the global benchmark, rose 62 cents to $107.64 in thin trading conditions as US traders were away for the Thanksgiving holiday.
Oil Chart
EQUTIES
Macy’s, Best Buy, Wal-Mart among other retail giants will be in focus this week as the winter shopping season opens up. AT&T said it would take a $4 billion charge in case its takeover of T-Mobile USA fails.
Markets
Stocks closed in negative territory in thin trading Friday as investors were reluctant to go long ahead of the weekend. This comes amid ongoing worries over the euro zone. The Dow and S&P posted their worst Thanksgiving week since the Great Depression on a percentage basis. The Dow Jones erased gains to finish lower. The S&P 500 and the Nasdaq also ended lower. Both logging a seventh consecutive decline. Some traders are watching for 1,150 on the S&P as the next key level.
DJIA CHART
FOREX
The US Dollar rose to multi-month highs amidst sharp losses in the Dow Jonesand S&P500. The Dow Jones FXCM Dollar Index easily broke the pshych resistance at 10,000 and currently boasts its strongest 20-day appreciation since the height of the financial crisis in 2008. Momentum clearly favors the topside, but traders should be careful of sharp corrections ahead of a critical week for the US Dollar and broader financial markets.
US Nonfarm Payrolls data headlines foreseeable event risk for the world’s largest economy. Traders should be equally mindful of any surprises out of a European finance ministers meeting on Wednesday. Euro Zone tensions hit fever pitch this week as a failed German bond auction caused sell-offs in Spanish and Italian bonds. Italy paid a huge 7.81 percent for 2 year bonds in its most recent auction. This is up substantially from the 4.63 percent frolast month. Standard and Poor’s also aggrevated the Euro Zone’s wounds as it downgraded Belgium’s sovereign credit rating for the first time since 1997. The doom and gloom in Europe was enough to push the US Dollar to significant highs.
EURUSD Chart
COMMODITIES
US crude futures fell on Friday and were on pace to post a loss for the week as concerns about Europe’s debt crisis strengthened the dollar and kept ita focus fears that an economic slowdown will curb oil demand. The price of ICE Brent oil, the global benchmark, rose 62 cents to $107.64 in thin trading conditions as US traders were away for the Thanksgiving holiday.
Oil Chart
EQUTIES
Macy’s, Best Buy, Wal-Mart among other retail giants will be in focus this week as the winter shopping season opens up. AT&T said it would take a $4 billion charge in case its takeover of T-Mobile USA fails.