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NFP DAY WITH BINARY OPTIONS

BITCOIN 781.950 11:20 03.12
BitCoin/CNY 5382.550 11:20 03.12
BITCOIN 782.045 11:00 03.12
BitCoin/CNY 5383.210 11:00 03.12
BITCOIN 782.136 10:40 03.12
BitCoin/CNY 5383.835 10:40 03.12
BITCOIN 782.186 10:20 03.12
BitCoin/CNY 5384.175 10:20 03.12
BITCOIN 782.498 10:00 03.12
BitCoin/CNY 5386.325 10:00 03.12
BITCOIN 780.288 09:40 03.12
BitCoin/CNY 5371.115 09:40 03.12
BITCOIN 781.315 09:20 03.12
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Binary options traders will be eyes on glass, as we say, today. With the Non Farm Payrolls ready to make the headlines as the first event of the day just as the Us session opens up. Markets are expecting a slightly lower figure as compared to last month. This time around, market expectations are for a figure of around 170k as compared to the previous 175k mark reached last month. Generally, any figure that is worse than the previous figure causes markets to go down, even if they beat estimates.

 

 

But this time around, we have an interesting situation. On the one hand, as mentioned above, the market is expecting a lower figure. However, this NFP report is coming on what is known as Zombie Day. It’s simply a relatively quiet day due to the holiday on Thursday which leads to many traders skipping town and heading for a long holiday. But this rarely happens when the NFP is involved. As such, we have a hard time believing that this specific Zombie Day will act in any way familiar. NFP days are generally volatile sessions and it will be very hard to believe that binary options traders will see any zombies on this particular day. It’s far more likely that things take a turn for the volatile.

 

 

Markets are probably going to head up as the indicators we currently have are pointing in this direction. Stock index futures are heading higher, the USD is heading higher, and the price of gold – ok well the price of gold is going down, but that’s not new.

 

 

The worry is that the indicators mentioned above are actually attributable solely to the comments made by Mario Draghi yesterday in conjunction with the interest rate decisions made by the ECB, the European Central Bank. The ECB decided not to change the interest rates and left everything in place. Thereafter, European Central Bank President Mario said that the ECB’s monetary policy will “remain accommodative as long as needed”. According to Investing.com, (http://www.investing.com/news/forex-news/forex—eur-usd-dragged-lower-by-draghi-comments-249886) Draghi stated that rates will stay low for an “extended period of time.”

 

 

The news from the ECB coupled by Draghi’s comments dragged the EUR lower and as such, the USD has maintained strength against most other currencies. So looking at the day ahead, obviously only the NFP will matter. However, the news from yesterday may have an effect yet on the proceedings. Be ready for anything and if you are prepared to take some options prior to the release, just make sure to take expiries for AFTER the release and not at the release. If you take a an expiry for the release time itself, you risk getting the pre-release price. The thing with this is that you are invariably receiving the price in the market prior to the release, so the risk was unwarranted.

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Adam Stone
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Adam Stone

As COO of GOptions, my first and foremost goal is to provide traders with the most up to date info from the markets. I have been trading the markets since 2004 and have been involved with stocks, binary options, and forex trading since then. I have had no formal market education and pride myself on a self taught approach to everything related to trading. I try to focus though on both the technical and fundamental aspects related to each trading day and bring forward the most important aspects of risk/reward in the market.
Adam Stone
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