All European markets have tumble since the beginning of the week. Also, binary traders were most active to buy some Put binary options in all European indexes after the French President Nicolas Sarkozy lost to the Socialist challenger François Hollande. Greek voters punished the ruling parties. In the middle of the week binary traders have been still nervous with the European stocks which finished mostly lower on Wednesday trading session. This was mainly because of the investors’ worries about Greece’s future in the Eurozone.
Binary traders will watch closely the next Greek political situation as the risk of Greece leaving the Euro currency by the end of 2013 has risen to as high as 75 percent. Also, Reuters said on Wednesday that the Spanish government will ask banks to set aside another 35 billion euros ($45 billion) against loans to builders. This was announcement on Friday after the government’s weekly cabinet meeting.
Later during the Thursday’s session the European stock markets traded in a cautious manner as binary traders digested the news that the European Financial Stability Facility will disburse funding to Greece and Spain’s move to rescue troubled lender Bankia. Also, the European stock markets fell at the open Friday, hit by U.S. banking giant J.P. Morgan Chase & Co. booking at least $2 billion in trading losses, while caution persists ahead of further political developments in Greece.
Disclaimer
The information in the above analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument
