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ASIA IS LEADING THE CHARGE THIS MORNING

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BigInJapan

The NIKKEI just got some good news and binary options traders who were following the Asian session were probably ecstatic as the index broke past the uber-critical 15000 level. The good news in Asia actually stemmed from the US’s desire to continue with its Quantitative Easing plans. Fed chairman Yellen eased market fears by making it rather clear that tapering of the bond buyback program won’t be hitting markets for some time. Actually, her statements yesterday were far more emphatic as she stated that the Fed’s efforts at spurring growth and hiring were simply “imperative” to the future of the US economy.
 

Yellen’s words were like a call to buy in Asia and as a result the major stock indices there are on a tear. The NIKKEI, already making major moves all week as the JPY has weakened, continued the trend today and is currently up approximately 1.9%. For this amazing week of trading on the index, we’ve seen a rise of 7.6% and there could be more to come in the following week. The break above 15000 though was a boon to binary options traders and we’ve seen a massive spike in trading volume as a result.

 

From the dealing room’s Jimmy Avery, we’ve received the following quote “the volume spike on the Nikkei and on other Asian indices was to be expected. Yellen’s words helped make the initial push, but the momentum was already there starting earlier in the week and leading to the huge move above 15k. Our traders were seen on the screens with the biggest jump in volume we’ve had on the index in all of 2013 and it was quite amazing to see. So long as the JPY remains weak heading into next week, we can expect more of the same and more resistances are set to break one after the other”.

 

There is a lot of news slated for the day ahead starting 10 am this morning (GMT) in Europe with the release of the Consumer Price Index and the CPI Core. Both results should come in or around 0.7 as compared to the previous result around 1.1% for both. Any significant divergence to the upside could cause European assets get a little more attention and even help push the EUR higher. But we are rather skeptical and expect more negativity from the EU side of things.

 

A bit later in the US, the CPI will be released as well as industrial production figures. It’s all set for 13:30 GMT and binary options traders need to ready themselves for any scenario. These indices don’t tend to make major moves in the market, but the potential is there and with volatility already at a high, expect some market reactions that can get interesting very fast.

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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.
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