Nadex offers binary options on economic numbers like the weekly jobless claims. In the days before they are released, traders and analysts speculate on whether the number will have increased or decreased and how different markets may react.
The economic numbers you can trade on Nadex are the weekly jobless claims, monthly nonfarm payroll, and the Fed Funds rate.
Unlike Nadex products like stock indices, commodities or currencies, these economic numbers have no underlying market where there is continuous price discovery. They are simply announced and there is thus only one final “price,” which is the published number.
To ensure that trades are executed with accurate numbers, Nadex gets them from the original source agencies and then verifies them by cross-checking with trusted economic news sources.
These numbers are reported by the following agencies of or affiliated with the US government:
|Economic Event Number||Source Agency|
|Fed Funds Rate||
Federal Open Market Committee
|Weekly Jobless Claims||Department of Labor|
|Nonfarm Payrolls||Bureau of Labor Statistics|