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Binary Betting Today – 8th February 2010

A quiet day on the Forex markets today for binary betting, with only two major items of news due for release today, namely the Swiss retail sales figures forecast at 1.3%, well up from last time at 0.6%, followed later in the day by the Canadian Housing Starts, which once again should be positive, with a forecast of 180,000 against a previous of 175,000. Following the Non Farm Payroll data of Friday, the US dollar continues to strengthen against most of the major currencies this morning, all of which have moved around 0.4% so far, and with the US dollar index continuing its recent climb, this trend looks set to continue in the short to medium term. For the euro the Sovereign debt problems in Europe remain at the top of the agenda as speculators and traders continue to consider the prospect of a default by either Greece or Portugal, with the euro continuing to falter as a result. In today’s thin news markets expect to see further volatility as a result as rumor and fear continue to drive the forex markets until these issues are clearly resolved.

With positive numbers expected for both the above news items, we can expect to see strength in both the Swiss franc and also the Canadian dollar, and these should present good binary betting trading opportunities today in the USD/CHF and USD to CAD.

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