This was a good week for the binary instruments. The news about the bailout of the troubled Spanish banks and the 
expectations of new monetary stimulus by the central banks all over the world, lifted the mood of the binary traders. However, they started closing their binary call options by the end of the week because of the upcoming Greek elections. Their issue could change the whole picture dramatically.
The binary commodities are among the biggest winners of the week. Copper increased by almost 3%. It was oversold after stumbling almost 20% for the last 2 months. Moreover, it found support at its MA200. As it is well-known the aforementioned level is of great importance for the mood of the binary traders. Should the binary options fall below the given level, the trend could change. The binary gold is the next winner of the week. It appreciated by 2%. The binary traders consider it to be a safe heaven before the Greek elections. That is why they want to hedge their call option positions in order not to be caught in a bull trap.
The biggest loser of the week is the binary US Dollar. The rise of the binary markets and the increasing value of the binary gold are influencing the downside pressure over the greenback. It depreciated by 0.9%, closing around 1.2615.
The binary currencies increased against the greenback. The political and economic tension in Europe eased this week and pushed higher the binary options on the currencies. NZD increased by 2.0%, followed by the AUD adding 1.3%, JPY appreciated by 0.9%.
The binary indexes finished the week in the green. Dow Jones Industrial gained 1.1%, closing at 12650 points, while NIKKEI225 managed to increase by 1.3%, closing at 8568 points. From the overseas indexes DAX30 was up by 0.5%, closing at 6198 points. FTSE100 was the biggest winner with regard to its European peers, appreciating by 1.3%.
The range of change of the other traded instruments is between +1.69 % to -0.7%, as follows:
|
BOVESPA |
+1.69% |
|
EUR |
+0.7% |
|
CHF |
+0.7% |
|
SILVER |
+0.6% |
|
CAD |
+0.5% |
|
S&P500 |
+0.4% |
|
NASDAQ100 |
-0.7% |
The above information is as of 15.06.2012, 09:19:32 EDT
Disclaimer:
The information in this 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.
