Binary Daily Analysis 31/5- Thin Trading in Asia and Europe as US and UK take a Break


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Asian markets traded mostly lower amid thin trading, as holidays in the US and the UK kept trading desks closed. The Nikkei closed down 17 points to 9505 in the lightest volume of the year. The Kospi slipped .3% and the Shanghai Composite eased .1%, while the Hang Seng gained .3%, led by banks.

In Europe, the DAX closed flat and the CAC40 slipped .2%. Germany announced a plan to close all its nuclear reactors by 2022, sending nuclear power shares down more than 2%. EU officials were meeting in an attempt to draft a second bailout of Greece, desperately trying to avoid a debt default.

US markets were closed.

Treasuries and Commodities

US bond markets were closed. In Europe, German bonds rose slightly, as 10-year notes gained .08 and 30-year notes rose .18.

Crude oil eased .16 to 100.43, while natural gas climbed 1.1% to 4.568.

Gold inched up 2.60 to 1538.90, and silver advanced .6% to 38.085, while copper slid .5% to 4.164.


The dollar rose modestly as the major currencies traded in narrow ranges. The Swiss Franc retreated .6% to .8526 after Friday’s 2% rally, while the Pound and Euro both slipped .3%. The yen dropped .4% to 80.94.

Swiss Franc Pulls Back

Economic Outlook

Tuesday’s reports will include the Case-Shiller Home Price Index, consumer confidence, and Chicago PMI.

Earnings are due from Dollar General and Coldwater Creek.
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