Binary Options Weekly Report (June 13- June 17)

SamTrader1

Active member
Messages
164
Likes
0
Markets

Stocks finished mixed for the week amid thin, choppy trading, but the Dow and S&P snapped a 6 week losing streak. The markets were boosted by news a bailout for Greece may be near. However, gains were limited as investors were worried over the continuing economic weakness.

The Dow Jones Industrial Average gained 42.84 points, or 0.36 percent, to finish at 12,004.36, snapping its six-week losing streak and ending above the important 12,000-mark. The S&P 500 gained 3.86 points, or 0.30 percent, to close at 1,271.50, while the Nasdaq slipped 7.22 points, or 0.28 percent, to end at 2,616.48. The Nasdaq is down for the fifth straight week.
12.png

DJIA

FOREX

The Euro extended the rebound from the previous day as European policy makers endorsed a short-term solution for Greece, but the relief rally is likely to be short-lived as there appears to be a shift in risk-taking behavior.

The Euro extended the rebound from the previous day as European policy makers endorsed a short-term solution for Greece, but the relief rally in the single-currency is likely to be short-lived as there appears to be a shift in risk-taking behavior. German Chancellor Angela Merkel and French President Nicolas Sarkozy said they favored the ‘Vienna’ style program that was used back in 2009, which encourage Greek bondholders to roll over the expiration of the government debt, but refrained from announcing a specific date of when a sound solution would be drawn up to address the debt crisis.

As leaders of Europe try to buy more time for Greece, the efforts may help to keep the Euro afloat going into the end of the week. Still, the single currency will certainly face additional headwinds in the days ahead as the EU struggles to meet on common ground. With investors turning their attention to the Euro zone meeting on June 19-20, the near term correction in the EURUSD will come under pressure should the group fail to stem the risk for contagion. In turn, the EURUSD may continue to threaten the rebound from May (1.3969) in the week ahead, and the exchange rate may fall back towards the 61.8% Fibonacci retracement from the 2009 high to the 2010 low around 1.3880-1.3900 as fears surrounding the sovereign debt crisis continues to bear down on trader sentiment.
22.png


EURUSD

COMMODITIES


Gold prices gained to settle at $1,539.10, marking its biggest one-day gain in 3 weeks, as the Greek debt crisis raised risk aversion. The Euro pared losses against the Greenback , but the Dollar is still up nearly 2.5 percent over the last two weeks.

Oil prices fell, with crude down $1.94, to settle at $93.01 a barrel, the lowest since the Feb. 18. London Brent crude declined 81 cents to settle at $113.21. Prices have slipped more than 6 and 4 percent for the week, respectively.



GOLD

EQUITIES


Airlines gained on the back of lower oil prices. United Continental, Delta and Southwest Airlines all traded higher. Capital One beat bids from the likes of GE Capital and CIT Group to buy ING’s U.S. online bank for $9 billion in cash and stock. Suntrust Robinson raised its rating on Capital One to “buy” from “neutral.”
 
Last edited by a moderator:
Top