Asset Performance
Binary options traders should be looking at encouraging developments in oil and gold especially. Oil has sustained its modest gains over the last week. WTI is currently trading at around $34.50 USD a barrel. Some data indicates that oil is poised to advance even more, although there are still doubts about its capability to sustain further gains. Binary options traders should be looking at the data and adjusting their strategy according to emerging trends in oil rig count in the US and the degree to which a production freeze agreement between Russia and OPEC members will succeed.
Gold on the other hand has been the single best asset to own so far in 2016. It has out-performed most currencies, indices and commodities. It is currently trading at around $1240 USD an ounce, and it seem like it will strengthen further. Binary options traders should be looking at data about inflation, job creation, interest rates and economic growth in key places in the world like the US, China, EU and Japan to adjust their gold strategy.
This 60 day chart shows how much gold advanced so far in 2016. There is no doubt that it is one of the best performing assets this year if not the best. Chart from goldprice.org
Currencies
Over the last few weeks, the Canadian dollar has been regaining territory. It is now trading at around $0.74 USD. If the price of oil keeps on recovering, the loonie might make further gains. The Australian dollar has also recovered albeit to a lesser extent. The Yen has probably been the most volatile of the developed nations’ currencies. Since it is seen as a safe haven by many investors, the Yen is facing speculative pressures from investors, apart from the pressure it has faced from the adjustments that the bank of Japan has done to the interest rate. The bank of Japan started selling bonds with negative interest rates over the past week.
The Binary Options Angle
Lately it seems more and more like the markets are turning their losses around. Binary options traders love these times because it is easier for them to adjust their trading strategies. When the smoke clears, select assets are poised to rise, and hedging the risks becomes a simpler task. Traders should be following the data right now more than at any other time this year. There are attractively priced assets with a lot of upward potential from which they can make money on their investments.
