Binary Options News: Market Overview for September 2nd

BinaryOptionsNow | Published on September 2, 2011 at 10:11 am

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European and American Indices fall ahead of NonFarm Payrolls report

European and American Equities have moved against a 4-day rally as announcement of August NonFarm Payrolls approach with many analysts forecasting a worse than expected result, fueling fears that the world’s biggest economy is heading into another recession. After losing 17% throughout July to early August, the S&P recovered by gaining 9% in the last few weeks.

However, if the NonFarm Payrolls data comes in at the newly adjusted levels, analysts are predicting that these recent gains maybe eaten up in the coming days. Will the NonFarm payrolls be worse or better than expected and how will it affect the US markets?


Gold back on the rise as recession fears grow

Gold is currently rallying at $1851.76 an ounce, up from a 1.824.99 an ounce as fear of a new recession, caused by the looming Non-Farm Payroll figures, pushes investors back towards to safe haven.

With the four day global market rally, Gold has traded far below its all time high of $1912.3 an ounce, however, with the Non-Farm payrolls being forecast to be worse than initially expected, the global markets have fallen pushing Gold back up in value.


Sterling strengthens with US Job data eagerly awaited

Sterling has edged ahead on Friday morning as traders unwind positions heading into US Non-Farm Payroll data.

Sterling has crept up from 3 weeks lows versus the Dollar as investors sit on the fence leading to one of the most important economic data announcements of the month.

Sterling currently trades at $1.6204 with support for its 200-day moving average at $1.6120.

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Source: OptionFire

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