Binary Options Analysis – Equities Tumble and The Greenback Soars

bforex

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The Greenback

The USD continued to find takers as the trading day grew on Monday. The greenback gained versus the major currencies and this came as Wall Street turned in a positive day retracing much of the ground it lost on Friday. The ISM Manufacturing PMI was released yesterday and turned in a reading of 60.4 compared to estimate of 60.0. Construction Spending also showed an improvement over the previous report. Today Pending Home Sales numbers are on schedule and they are anticipated to show a gain of 3.9%, Factory Orders will be brought forth too. Investors who are focusing on American data know full well that beginning tomorrow jobless data will start to be evaluated. The ADP Non Farm Employment Change figures are tomorrow, the Unemployment Claims follow Thursday, and the all important government Non Farm numbers are on Friday.

Investors are clearly participating in a broad market that continues to turn in divergent results. Risk appetite in the equities was apparent yesterday, but with more than a few days of rather large risk events coming up regarding EUR centric developments, jobless data, and even the election in the U.K, the proof in the pudding remains tentative at best and bulls still have a long way to go before they convince bears that they are on the wrong side. The USD has picked up steam against the EUR, not only under improving U.S. data but because of questions which continue to proliferate from the E.U. around Sovereign Debt. Investors will have a full plate of statistics by Friday in order to judge and ultimately define their sentiment. The jobless situation in the U.S. remains a critical lynchpin among traders who remain unconvinced about the strength of the American recovery. Today’s Pending Home Sales numbers may have an influence on the markets and the developing Sovereign Debt issues from across the ocean will have its impact too.
 
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