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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

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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