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Long Term Binary Options to Watch on Oct 3: AUD/USD, Natural Gas

Long Term Binary Options to Watch on Oct 3: AUD/USD, Natural Gas

Despite the fact that the dollar has been extremely high in recent times, the AUD has been gradually climbing against it and on Thursday it reached a high of 0.8812 before settling just above 0.8775.

The AUD rose after the release of upbeat Australian building approvals data. Building approvals increased by 3% in August, exceeding expectations for a 1% rise. However, on Friday the US nonfarm payrolls report is due and it is expected to show that the US economy added over 200,000 jobs for a sixth successive month in August. As a result the dollar will probably strengthen on Friday which means a Put trade may be the way to go.

In commodities, natural gas has been falling sharply since Wednesday from a high of 4.181 down to 3.926. This is because US natural gas supplies rose more than forecast last week. The fall is likely to continue so again a Put trade is probably wise.

OCA News Editor

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