October 11 – Binary Option Market Update

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October 11 – Binary Option Market Update

The aluminium giant Alcoa heralded an unofficial start to the Q3 earning season yesterday by moving past its estimates for the season. The investors however were disappointed when the company cut down on its stance based on global aluminium demand. Chevron on the other hand announced doubts about its third quarter profits not meeting expectations. The Asian stock market also experienced a slump as Spain was hit with a credit downgrade and the European Stoxx 600 index beat its 5 year earning estimates.

The U.S. stock market

Alcoa shares fell 4.5% after they predicted that the global demand for aluminium will be weakened owing to the sluggard growth of Chinese economy. On the other hand Chevron shares also experienced a fall of 4.4% after it hinted that its future profits could be lower compared to previous quarter’s numbers.

Later in the day, the NYSE and DJIA experienced a slump of 0.79%, S&P 500 dropped to 0.55% and NASDAQ declined to 0.48%. The chief investment officer at Haverford Trust, Pennsylvania Hank Smith expressed concerns about the season turning out to be a very bad one while hoping for the Standard & Poor’s 500 earnings to be better than the expectations.

The investors on the other hand are nervous about the equity rallies observed recently. There is a huge amount of interest in selling equities among the investors. Also the Fed’s Beige Book has confirmed that the American economy has observed a modest expansion, in contrast to the previous report. However, the employment conditions are hardly better than the same published in the previous report.

Overall it is a declining trend in the market with little optimism of improvement in the days to come. The declining trend has opened a door for the wonderful use of knock on effect. You might just want to bank your binary options in favour of the declining trend for the day.

The Stoxx 600 is doing better than ever. It is currently trading at 11.9 times the earning estimates of its companies, beating a 5 year average of 1.5. The Stoxx 600 reached a benchmark of 12.3 in price multiple in the last month which is its highest after 2020.

Spain, the fourth largest European economy, received a major blow with a credit downgrade. The American S&P 500 dipped Spain’s debt to the lowest level in the investment grade. The action was in view of the nation’s recession, social unrest and high unemployment.

The ECB offered to purchase unlimited amounts of government bonds from sweating European economies such as Spain in the last month. The governments were required to apply for the bailouts. But Spain has not yet applied for one. In lieu, the Spanish government is trying to bring down its budget deficit by introducing a sequence of labour measures and austerity. These measures were aimed at proving to its investors that Spain can manage on its own, without any external aid. The downgrade from S&P 500 might just push the Spanish government to approach the ECB. It is a mixed trend in Europe with the Stoxx 600 holding fort and a reluctant Spain being downgraded.

The Asian Stock Market

In view of Spain getting downgraded and a whimpering start to the earnings season in the U.S., the Asian stock market experienced a fall yesterday. As a sign of global economic slowdown, South Korean central bank slacked its interest rate which led to sunken projections of growth for present and the year to come.

The global turmoil has had a bearish effect on the Asian stocks. The South Korean Kospi lost, Australian S&P/ASX 200 and the Japanese Nikkei 225 index all experienced a fall of 0.2%. On the brighter side, Hong Kong’s Hang Seng climbed to 0.3%.

The general performance of the Asian stock market, with the exception of Hang Seng, is lacklustre You will probably be able to remain safe with your binary options in favour of a declining trend as far as the Asian market is concerned, again with an exception of Hang Seng.

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Strategy for the Day

Any market can only move in 2 directions, you either have a bullish market or a bearish market. When trading with binary options even a bearish market can earn you ample amounts of money. All you need to do is observe and identify an asset with a consistent declining trend and choose your options in favour of the declining trend. If your observation is accurate, you are very much likely to gain.

Another strategy that can come handy in almost any situation is the market pull or the knock on effect strategy. This strategy requires a little more observational skills compared to a simple bearish strategy. You will need to identify a group of assets in such a way that they either have an identical or a reverse relationship with a primary asset. Then base your options in favour of these relationships. Once you have determined the relationships between the assets, you will be clear about choosing Call or Put based on how the primary asset moves. For more strategy info click here.

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In the EU, financial products are offered by Binary Investments (Europe) Ltd., W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta, regulated as a Category 3 Investment Services provider by the Malta Financial Services Authority (licence no. IS/70156).

Outside the EU, financial products are offered by Binary (SVG) LLC, Hinds Building, Kingstown, St. Vincent and the Grenadines; Binary (V) Ltd, Govant Building, Port Vila, PO Box 1276, Vanuatu, regulated by the Vanuatu Financial Services Commission (view licence); Binary (BVI) Ltd, Kingston Chambers, P.O. Box 173, Road Town, Tortola, British Virgin Islands, regulated by the British Virgin Islands Financial Services Commission (licence no. SIBA/L/18/1114); and Binary (FX) Ltd., Lot No. F16, First Floor, Paragon Labuan, Jalan Tun Mustapha, 87000 Labuan, Malaysia, regulated by the Labuan Financial Services Authority to carry on a money-broking business (licence no. MB/18/0024).

This website’s services are not made available in certain countries such as the USA, Canada, Hong Kong, Japan, or to persons under age 18.

The products offered via this website include binary options, contracts for difference (“CFDs”) and other complex derivatives. Trading binary options may not be suitable for everyone. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. As a result, the products offered on this website may not be suitable for all investors because of the risk of losing all of your invested capital. You should never invest money that you cannot afford to lose, and never trade with borrowed money. Before trading in the complex products offered, please be sure to understand the risks involved and learn about Responsible Trading.

In the EU, financial products are offered by Binary Investments (Europe) Ltd., W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta, licensed and regulated as a Category 3 Investment Services provider by the Malta Financial Services Authority (licence no. IS/70156).

In the Isle of Man and the UK, Synthetic Indices are offered by Binary (IOM) Ltd., First Floor, Millennium House, Victoria Road, Douglas, IM2 4RW, Isle of Man, British Isles; licensed and regulated respectively by (1) the Gambling Supervision Commission in the Isle of Man (current licence issued on 31 August 2020) and by (2) the Gambling Commission in the UK (licence reference no: 39172).

In the rest of the EU, Synthetic Indices are offered by Binary (Europe) Ltd., W Business Centre, Level 3, Triq Dun Karm, Birkirkara, BKR 9033, Malta; licensed and regulated by (1) the Malta Gaming Authority in Malta (licence no. MGA/B2C/102/2000 issued on 01 August 2020), for UK clients by (2) the UK Gambling Commission (licence reference no: 39495), and for Irish clients by (3) the Revenue Commissioners in Ireland (Remote Bookmaker’s Licence no. 1010285 issued on 1 July 2020). View complete Regulatory Information.

Binary.com is an award-winning online trading provider that helps its clients to trade on financial markets through binary options and CFDs. Trading binary options and CFDs on Synthetic Indices is classified as a gambling activity. Remember that gambling can be addictive – please play responsibly. Learn more about Responsible Trading. Some products are not available in all countries. This website’s services are not made available in certain countries such as the USA, Canada, Hong Kong, or to persons under age 18.

Trading binary options may not be suitable for everyone, so please ensure that you fully understand the risks involved. Your losses can exceed your initial deposit and you do not own or have any interest in the underlying asset.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.6% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Trading Suggestions and Market News

Beyond a successful trading strategy and commendable money management practices, a binary trader should also update himself with the latest economic and geo-political news around the world. It is also a must for beginners to regularly read through trading tips to understand how the analysts arrive at a buy or sell recommendation. In this regard, this website provides you with regular trading tips along with the news that dominates the headline on a given day.

US Congress Told Bitcoin Is The ‘Mother Of All Scams’

Blockstream Launches Liquid Network

Starbucks turns weak on missing Q4 comp-sales growth

Google Q3 beats earnings view, paid clicks up 47% YoY

AMEX beats Q3 2020 analysts’ estimates, raises FY17 EPS view

Pepsico beats Q3 2020 EPS view, raises FY17 EPS outlook

Bayer turns bearish on concerns over Monsnato acquisition

GoPro turns bullish on upward revision of Q3 2020 view

Toyota beats Q1 2020 estimates, raises FY18 view

BP turns bearish on high break even oil price

For the following reasons, every binary trader must know what is happening in the market.

    Enables a trader to pick the right asset:

When the market is focused on a particular asset, it is better to avoid trading in some other asset as it will lack of liquidity and volatility. A trader should always remember the adage ‘make hay while the sun shines’. In order to pick the right asset, a trader should regularly go through the trading tips and market related news provided in various forums and binary trading related websites such as this one. By studying the tips provided in this website a trader will have so much of valuable time and money saved in searching for a suitable asset for trading.
Avoid wrong entries:

By following the news headlines and trading tips, a trader can avert irreversible mistakes such as purchasing a put option when there is a high impact bullish news and vice versa. Likewise, the market may have a bullish view on an asset and it cannot be understood by fundamental and technical analysis. In such cases, only those websites that offer regular trading tips and market news would enable a binary trader to understand why a particular asset is moving up (or down) in spite of bad (or good) economic data. Thus, it is not a wonder to see a news trader make consistent profits from the market.

For example, the economic data related to Japan continues to remain negative to a certain extent. However, the Yen continues to rise against the major currencies irrespective of the efforts taken by the Bank of Japan to weaken it. Only those binary traders who go through websites such as this one can understand that it is the safe haven appeal that keeps the Japanese Yen bullish.

Thus, from the above discussion, it can be understood that it is highly necessary for a trader to keep himself abreast of the developments that determine the price movement of an asset in the market.

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