Daily Market Review for October 21st

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Daily Market Review

Welcome to OptionClick’s daily market review. In this section we will cover various assets and provide you with information regarding their current status and the upcoming events that may influence them. Be sure to keep up with the news to make the most of your ventures!

EUR/USD

The pair fell slightly and is currently trading at 1.2576. A lack of data releases led the pair to see relatively small intermittent gains and falls. However, last week’s data has indicated that US consumer sentiment is higher than previously expected, with more faith put into the US economy. In the meantime, last week saw some negative data in the Eurozone, with the German Wholesale Price Index gaining 0.1% in the month of September, following a 0.2% decline in the previous month. However, the German Economic Sentiment dropped significantly, as well as industrial production. The European Central Bank urged governments to strengthen their economies in order to ensure the region’s economic success. At the same time, the bank is scheduled to begin the purchasing of asset-backed bonds within days.

Crude Oil

Crude oil made slight gains and is trading at $82.25. The EIA’s weekly inventories report has indicated that US crude inventories have gained 9 million barrels between October 3 and 10. At the same time, gasoline inventories have gained 4 million barrels. Demand for 2015 is expected to decline, pointing toward a possible downtrend in the coming months. At the same time OPEC countries are offering discounted prices to several markets while maintaining a relatively high production rate, further contributing to declines.

Dow Jones

The index is up 19 points, or 0.12% and trading at 16,399.67 after being at a 120 point loss during the trading session. The previous week has been volatile. In fact, the index hasn’t seen such volatility since 2011. However, as Ebola fears subsided, the index gained 263 points on Friday and ended the week on a higher note. IBM’s week quarterly earnings have pulled down the Dow Jones, however traders remain optimistic.

Disclaimer

The material provided on this market review and the linked websites is not intended to be your only source of information when you are making financial decisions. OptionsClick™ is not a financial advisor. The information provided should be treated as a guide only and it is not a substitute for independent professional advice. You should seek independent professional advice relevant to your particular circumstances.

OptionsClick™ have made every effort to ensure that the material published here is accurate.

OptionsClick™ takes no responsibility or accept no liability arising from:

  • Errors or omissions.
  • The way in which any material is interpreted.
  • Reliance upon any material.
  • The contents or reliability of any linked websites.
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Daily Market Review for October 20th

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Daily Market Review

Welcome to OptionClick’s daily market review. In this section we will cover various assets and provide you with information regarding their current status and the upcoming events that may influence them. Be sure to keep up with the news to make the most of your ventures!

EUR/USD

The pair gained 9 points and is trading at 1.2817. On Thursday, the US dollar saw a sharp increase against many of its peers, with forecasts estimating that the dollar will outpace the euro and the yen in terms of growth. The European Central Bank has extended its stimulus package in hopes of increasing credit growth, decrease unemployment as well as achieving desired inflation. Following a year in which the ECB hesitated to initiate a large scale government bond-buying program, the bank has decided to put concerns aside and cut interest rates and begin the program. Currently, the bank will only purchase assets backed by securities and covered bonds. However, the shift to a money creation policy has its own set of concerns as the devaluation of the currency is most likely unavoidable.

Gold

Gold lost $3.9 and currently trading at $1237.3, below its 5-week high, as concerns over global slowdown and signs that US interest rates a further away than anticipated. Furthermore, as the Eurozone seems to show more signs of its ongoing economic crises, investors are looking for a safe investment. Expectations are that the upcoming week will be positive for gold, especially as negative data continues to trickle out of Europe.

S&P 500

The index saw gains during Friday’s trading session, nearing the 1900 level but never breaking through. Most estimations are that this resistance level, which not too recently served as a support level, will be broken and that the S&P will move higher. Traders are advised to pay close attention and buy-in as the index begins to see gains, as this should prove to be successful for both the short and longer-term.

Disclaimer

The material provided on this market review and the linked websites is not intended to be your only source of information when you are making financial decisions. OptionsClick™ is not a financial advisor. The information provided should be treated as a guide only and it is not a substitute for independent professional advice. You should seek independent professional advice relevant to your particular circumstances.

OptionsClick™ have made every effort to ensure that the material published here is accurate.

OptionsClick™ takes no responsibility or accept no liability arising from:

  • Errors or omissions.
  • The way in which any material is interpreted.
  • Reliance upon any material.
  • The contents or reliability of any linked websites.
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Daily Market Review for October 13th

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Daily Market Review

Welcome to OptionClick’s daily market review. In this section we will cover various assets and provide you with information regarding their current status and the upcoming events that may influence them. Be sure to keep up with the news to make the most of your ventures!

EUR/USD

The pair declined 30 points and trading as of this writing at 1.2660 as the dollar strengthens. During Friday’s trading session the dollar held its ground against the euro despite the Federal Reserve’s dovish concerns regarding inflation. Recent announcements indicate that the Fed is in no hurry to increase interest rates. Disappointing German data releases on Wednesday have established an expectation that the European Central Bank is likely to expand its stimulus program. At the same time, the current economic warfare between the Eurozone and Russia hasn’t subsided, with sanctions still held in place. Despite their negative impact on the European economy, many believe that Russia is absorbing a larger impact, as seen by their recent efforts to increase revenues by selling more oil.

Gold

Gold declined $3.4 and is currently trading at $1221.9. Gold reached $1230 – a 2-week high following October 6th’s yearly low. This came on the heels of the Federal Reserve’s minutes in which concern over economic growth was expressed. As interest rates rise, gold becomes less attractive due to the dollar’s appeal. The positive employment data released last Monday has spurred speculation that the Federal Reserve may increase borrowing rates sooner rather than later. Overall, gold-backed holdings are currently at a 5-year low point.

Dow Jones 30

The Dow Jones saw initial gains during Friday’s session but encountered enough resistance to turn around and close at 16,500. It is speculated that this level can offer some support, but most analysts expect that the index will continue in a downwards trend with perhaps short-term gains. Before pursuing momentary gains, it is recommended to wait and see if it is indeed an indication of a change in direction.

Disclaimer

The material provided on this market review and the linked websites is not intended to be your only source of information when you are making financial decisions. OptionsClick™ is not a financial advisor. The information provided should be treated as a guide only and it is not a substitute for independent professional advice. You should seek independent professional advice relevant to your particular circumstances.

OptionsClick™ have made every effort to ensure that the material published here is accurate.

OptionsClick™ takes no responsibility or accept no liability arising from:

  • Errors or omissions.
  • The way in which any material is interpreted.
  • Reliance upon any material.
  • The contents or reliability of any linked websites.
GD Star Rating
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