Binary Options News: Market Overview for September 5th

BinaryOptionsNow | Published on September 5, 2011 at 10:03 am

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Nikkei slides on Global recession fears

The Nikkei 225 slid nearly 1.9% on Monday, eating up last weeks gains as poor US economic data and a declining Euro continues to fuel fear of a second global recession.

Poor US Non-Farm Payroll data, suggesting Obama’s labor measures are not enough to prevent a double dip recession, along with the announcement that Namura is one of a handful of banks being sued for misrepresentation by the US government over the subprime mortgage crisis, can be seen as major factors in the Nikkei’s slide.

With Merkel’s election defeat and continued bad economic news, how will this week play out for the Nikkei?

 

Euro weakens against major peers

The Euro has weakened against all major peers in this morning’s session, a trend spurred by the election defeats of Merkel’s Christian Democratic Party.

Combined with poor US economic data, the traditional safe haven currency, The Swiss Franc has risen for the fourth consecutive day against the Euro; whilst the Euro also sunk to a three week low against the Yen.

Euro slid 0.6% to $1.4116 as of 8.10 am GMT.

 

Gold advances over global economic fears

Gold is on track to strengthen for a third consecutive day as concern over global economic weaknesses, in particular the European debt crisis and economic concerns in the US, fuel desire and demand for the safe haven commodity.

After dropping off of an all time high of $1912 an ounce, Gold has recently been trading around the $1750 mark, as global economic sentiment rose.

However, with the Poor economic data in the US and the election defeat of Merkel, fears have been strengthened pushing gold back towards its all time high.

With continued global fear, Will Gold continue to rise this week?

 

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Source: OptionFire

 

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