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Long Term Binary Options to Watch on Oct 3: FTSE 100, GBP/USD

Long Term Binary Options to Watch on Oct 3: FTSE 100, GBP/USD

Since the middle of September the FTSE 100 has been falling, from a high of 6,837.92 to a low on Thursday of 6,446.39.

The downwards trend is continuing despite optimism over the country’s economic outlook. Construction sector activity in the UK expanded at the fastest rate in eight months last month and there were rises in housing, commercial and civil engineering activity. However, for now it seems safest to place Put trades on the FTSE 100.

Despite the falling FTSE 100, the GBP had a better day on Thursday rising to a high of 1.6236 against the USD. Nonetheless it soon fell again to below 1.6200. This is mainly because the markets are expecting positive US employment data on Friday. The dollar is expected to strengthen so a Put trade on this pairing could be profitable.

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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