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One Touch Binary Options Assets for Oct 6-10: EUR/USD, GBP/USD

One Touch Binary Options Assets for Oct 6-10: EUR/USD, GBP/USD

On Friday the dollar reached new four year highs against other major currencies after the latest employment report showed that the US economy added more jobs than expected last month.

The US Dollar Index was up 1.23% to 86.79, the highest level since June 2010 after the US economy added 248,000 jobs in September. As a result it is increasingly likely that the Federal Reserve will raise interest rates sooner than expected. In contract the European Central Bank is likely to stick to a loose monetary policy. EUR/USD dropped 1.22% to 1.2514 while GBP/USD was down 1.08% to 1.5970.

This week Germany is set to release data on factory orders and the UK is set to produce data on industrial and manufacturing production. The news from Europe and the UK is not expected to be good so both the currencies are likely to fall against the Dollar.

While it is impossible to predict exactly how far the currencies will fall relative to the dollar, it is possible to make a reasonably accurate guess and this makes a one touch call binary option a fairly safe trade as it simply requires the trader to pick a target price. If this price is reached in the allotted time period then the trader will make a profit.

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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