Binary Options Report (April 4 – April 8) |
Markets
Stocks recovered some losses but remained lower ahead of the weekend in front of surging oil prices, and as Congress seemed on track to trigger a government shutdown by failing to agree to a budget for the rest of the fiscal year. The Whitehouse and Congress ended up extending the budget for another week.
The Dow Jones Industrial Average lost more than 30 points, after dropping more than 80 earlier, a day after a volatile session triggered by news of a second earthquake in Japan.
The S&P 500 and the Nasdaq also declined. The CBOE Volatility Index fell below 17.
DJIA (April 4- April 8 )
Forex
Canadian dollar maintained its strength through this past week; but it could struggle to establish bullish progress outside of its connection to the USD. Considering the US currency was one of the weakest performers through the period, this does not present a good assessment of the loonie’s fundamental bearings heading into the new trading week.
Looking at the fundamental positioning of the currency, it is difficult to establish a foundation for significant gains or losses. Still, we will closely monitor scheduled event risk, risk appetite trends and interest rate expectations to gauge not only the direction but intensity of the currency’s bearings this coming week.
LOONIE (April 1- April 8 )
Commodities
Most of the action on Friday was in commodities; this as gold soared to another new record, closing above 1,473 an ounce. Meanwhile, the dollar sank against the euro, which rose after the European Central Bank raised a key interest rate by 0.25 percent on Thursday
Oil prices jumped to new records with news about fresh attacks on Libyan oil fields, and the sinking dollar. London Brent crude surged above $124 a barrel, while U.S. light crude rose $2.49 to settle at $112.79 a barrel, its highest close since September 2008.
OIL (April 1- April 8 )
Equities
Among Dow components, Cisco and Alcoa fell, while Merck and Pfizer rose. Airlines, affected by rising fuel costs, posted the biggest drop as JetBlue, United Continental and Delta Airlines each dropped. But energy companies climbed, including Suncor Energy and Nabors Industries. But Hercules Offshore tumbled after the oil explorer said it is under investigation by the Department of Justice and the SEC.
About the author: BinaryOptionStrategy- David Frank
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