Binary Options Weekly Report (July 11- July 15) |
Markets
Stocks closed higher in thin trading Friday. However, they snapped a two-week rally amid ongoing uncertainty over the government’s ability to reach a debt-reduction deal and some growing concerns over the economy.
The Dow Jones Industrial Average gained 42.61 points, or 0.34 percent, to finish at 12,479.73, after see-sawing for most of the session. The S&P 500 rose 7.27 points, or 0.56 percent, to close at 1,316.14. The Nasdaq rose 27.13, or 0.98 percent, to end at 2,789.80. For the week, the Dow fell 1.4 percent, the S&P declined 2.06 percent, while the Nasdaq dropped off 2.45 percent.
DJIA
FOREX
The Canadian dollar continued to retrace the decline from back in May, and the appreciation in the Loonie may accelerate in the following week should the Bank of Canada show an increased willingness to raise interest rates off of 1.00%. According to Credit Suisse overnight index swaps, market participants widely expect the central bank to retain its current policy next week, but see borrowing costs increasing by nearly 50bp over the next 12-months as growth and inflation gather pace.
The Canadian dollar continued to retrace the decline from back in May, and the appreciation in the Loonie may accelerate in the following week should the Bank of Canada show an increased willingness to raise the benchmark interest rate off of 1.00%. According to Credit Suisse overnight index swaps, market participants widely expect the central bank to retain its current policy next week, but see borrowing costs increasing by nearly 50bp over the next 12-months as growth and inflation increase in strength.
USDCAD
COMMODITIES
Gold reach an all-time high, soaring $48.60, or 3.15 percent, this week to close at $1589.80. Oil prices gained as crude rose near $97 a barrel and London Brent crude climbed above $117.
CRUDE
EQUITIES
Most energy stocks were higher, including Chesapeake, Nabors and Hess. Meanwhile, investigations are progressing into the US operations of News Corp after the UK phone hacking scandal. And News International’s chief executive Rebekah Brooks finally bowed to political pressure tendering her resignation. Apple gained after at least two brokerages raised their price targets on the iPod maker. IBM also rose after Collins Stewart raised its price target on the tech giant to $200 from $185.
About the author: BinaryOptionStrategy- David Frank
 |
