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MARKETS ON A ROLL

AUD/CAD 1.00744 00:40 21.02
EUR/USD 1.06062 00:30 21.02
NZD/USD 0.71666 00:30 21.02
AUD/CAD 1.00763 00:20 21.02
BitCoin/CNY 7290.305 00:00 21.02
AUD/NZD 1.07178 00:00 21.02
NZD/USD 0.71742 00:00 21.02
EUR/AUD 1.37969 00:00 21.02
CAD/JPY 86.436 00:00 21.02
NZD/JPY 81.265 00:00 21.02
AUD/USD 0.76895 00:00 21.02
AUD/JPY 87.098 00:00 21.02
GBP/JPY 141.280 00:00 21.02
EUR/JPY 120.171 00:00 21.02
USD/JPY 113.272 00:00 21.02
EUR/USD 1.06089 00:00 21.02
NZD/JPY 81.332 23:30 20.02
AUD/USD 0.76855 23:30 20.02
AUD/JPY 87.028 23:30 20.02
EUR/JPY 120.162 23:30 20.02
EUR/USD 1.06119 23:30 20.02
USD/JPY 113.238 23:30 20.02
BitCoin/CNY 7186.225 23:00 20.02
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Markets took a strong move and made it count towards the end of this past Friday’s session. Although many were worried that it would turn into a zombie day, a Friday that comes after a holiday held on Thursday that can turn into a bridge for long weekenders, it turned out to be a classic Non-Farm Payrolls sort of day. US markets shot up higher and despite a lull in trading about 1 hour into the session, stocks pressed higher closing up nicely. The S&P closed up 1.02% to 1631 as the Dow finished 0.98% higher to 15135, breaking past 2 major resistance in the process (1500 and 15098). The tech heavy NASDAQ had the best of days as the index closed 1.04% to 3479.

 

 

The news propelling the markets higher was of course the NFP report which was a double dose of positive news. 195k new jobs were created in the private and public sectors last month in the US, beating estimates for a reading of just 165-170k. But in addition to this, May’s figures were revised upwards to 195k as well, up from 175k. Truth be told, this is tremendous news for the market and for the American economy. Normally, such results would have sent stocks higher by 2 or even 3%. However, the fact that this 195k figure is very close to the threshold held by the Federal Reserve as the trigger for the curtailing of stimulus to the tune of 85 billion per month, the good news came with a bit of trepidation.

 

 

We are of the belief that the long term effect of these results will still be seen in the coming days. In fact, markets may open up higher today as a result of this news. Indicators are already showing signs of this as post close markets like the stock index futures  continued the run higher. Could very well be that markets will simply continue carrying on upwards.

 

 

For those not following the moves in the US market or stock indices in general, forex was the place to be this past Friday. The EUR/USD, which was most affected by the good news, fell hard to 1.2830, it’s lowest level in months. The currency pair will likely follow the tide of the stocks and continue the push lower as the USD strengthens against nearly every currency.

 

 

Binary options traders will do the smart thing by following the major forex pairs like the EUR/USD in the coming hours to see if significant breaks are in store for the market today.
In other news related to forex, the market may take some time to digest the latest remarks made by the head of the Bundesbank in Germany that the “ECB cannot solve the euro-zone crisis” and this according to REUTERS (http://finance.yahoo.com/news/ecb-cannot-solve-euro-zone-124117402.html. Jens Weidmann told this to economists on Sunday in a bid to get the European financial community to tighten restrictions and policies

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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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