The dollar moved lower as the short-covering rally in the Euro persists. The euro is heading higher, reaching a 2-week high against the dollar, and currently trading above 1.30. Sterling headed up to 1.5575 after rebounding from 1.5520. European bourses were up on the day as a deal from Greece was gaining momentum.
The European Commission said Monday its preliminary reading of consumer confidence in the 17 countries that use the euro rose to -20.6 in January, from -21.3 in December. Economists had expected a further decline to -21.5 from December’s originally-reported figure of -21.1. Sentiment in German continues to carry the day for the EU.
US markets took a break from its drive to move higher, as investors continue to absorb the solid technology earnings released last week. On Tuesday after the bell, Apple will release earnings which could help to drive the Nasdaq for the balance of the week.
Binary options traders should consider purchasing calls on stocks which have already broken out such as Microsoft and IBM. A solid number from Apple will also make this a solid candidate. Exxon mobile has broken to the upside and should also be examined.
