Home » Binary betting tips » Binary Betting Tips 6 Nov 2009

Binary Betting Tips 6 Nov 2009

The bulls were firmly back in control last night as the Dow hit 10,000 again closing above this mystical level in some style with Wall Street having its first 200 point day in four months. Traders are now betting that today’s monthly payroll data will show the smallest decline in jobs from any month of 2009.  A lot of the thrashing about this week has come about as traders try to predict the outcome of the all important US Non Farm Payroll (NFP) jobs data due out today at 13.30 GMT.  As the NFP ranks ranks as one of the most important economic announcements to come out each month and eagerly anticipated by traders it is no surprise that markets become febrile. Non Farm Payroll numbers have been dropping every month since February 2008, but since April the pace of decline has been slowing. Economists are predicting a decline of -173,000 for this month which will be the best number since October 2008.  Traders should watch for any big deviations from this number in either direction as this could cause huge movements on the Dow Jones and the US dollar.

On the currency markets, it was a quiet day yesterday with traders unwilling to place any big bets ahead of today’s NFP announcement. The Australian dollar is the standout performer after positive noises from the Australian central bank.  Gold has so far failed to breach the $1,100 level, but today could be the day with volatility likely.

What’s hot?

The Aussie dollar: AUD/USD & AUD/JPY

Bet idea:

Gold tends to rally best when it’s not making the headlines and after a quiet couple of days, today could be the day that it finally breaks through the $1,100 level. You can bet on this with One Touch or Double trades.