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CHINA PUSHES ASIA DOWN

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By: Adam Stone
February 24th 2014 7:20am GMT, London UK
 

Binary options traders start the week after a bit of a mixed news, results, and index performance. News from the fundamental perspective of things was very confusing after all. There were some decent news events like the CPI in the US and the Bank Of Japan’s decision to double their stimulus package to the beleaguered economy. Indices were all over the place with the US making a bit of headway but still not really showing the type of performance we witnessed throughout most of 2013 the first two weeks of the year. But now, we believe that despite a drop on Friday, binary options traders should expect some elevated price action on the US indices, at least.

The S&P finished at 1836 on Friday, after falling 0.19% and looking rather weak. The index, which has been just about break even for the last 5 sessions, looks to break out this week with the close of February possibly able to create fertile ground for a serious move in early March. With some jobs related news expected later this week, the US economy may have some good news yet which can push things moderately forwards in the next 2-3 weeks. But for the day ahead in binary options trading, the market might still be a bit sensitive and lack the inertia needed to move things in any meaningful direction.

However, this morning, with drops across almost all of the Asian markets, expecting any significant increases during the EU session may be too much to ask. In fact, the US session may also be dragged down by the Asian laggards seeing as how this latest development was caused by the weakness in China which has been seen more linked than ever to the US performance records. Of late, the ups and downs in the world’s second largest economy and the world’s fastest growing economy of this scale, are more closely associated with the results elsewhere. If just 5 years ago the Chinese economy was an isolated case and 2 years ago became the benchmark for all of Asia, we are now seeing how results there are directly impacting the direction of the EU and US sessions. This is likely only going to get more correlated and thus more emphatic over time.

The Japanese NIKKEI finished just below break even, but most other major indices dropped fairly hard. The NIKKEI closed down 0.19% lower while the Hang Seng dropped over 1.08%. The Hang Seng actually makes up more than 5% of total binary options volume on indices on any given day. So it’s quite signifiant and binary options traders are likely to take notice of this.

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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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