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Binary Betting Tips 2 Dec 2009

USDYEN Chart 2 Dec 2009

USDYEN Chart 2 Dec 2009

As traders and investors appear to shake off the Dubai debt crisis the US dollar has, once again, come under pressure resulting in the Dow climbing back over the 10,500 price handle for the first time since October.  This renewed optimism has also translated into higher commodities with the price of gold leading the way as it surged over $1200 per ounce.

Following yesterday’s surprise meeting from the BOJ (Bank of Japan) the Yen is clawing its way back from the 85 price point, having fallen by 0.3% to 0.5% against most other currencies, including the US Dollar.

Pairs to Watch :


Bet Suggestion :

With the Dow hitting fresh 12 month highs things trading could be even more volatile today with the release of the ADP employment figures.  A classic way to trade these red letter news events is to wait for the first knee jerk reaction and then trade the pullback.  If the initial spike takes the Dow higher wait for the pullback to settle & then trade accordingly.
The Dow Jones hit a new 12 month high yesterday, but things could get even more exciting with today’s ADP

Today’s Market Movers :

Today’s main event is the US ADP which is forecast at -149k which is often seen as a good predictor for Friday’s Non Farm Payroll data, which ranks as one of the most important monthly economic announcements.   Although analysts are predicting a loss of 149k jobs it is worth noting that since June the number has always come in slightly worse than expected.  We will have to wait to see if this month is any different but both the EURUSD and Dow should give us an early reaction.

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