Daily Market Review for December 16th

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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 saw modest gains during Monday’s trading session and is currently trading at 1.2463 as of this writing, gaining 0.18% for the day. Traders are looking forward to any announcements from the Federal Open Market Committee (FOMC) due tomorrow. Any announcements regarding an interest rate change can have great impact on the EUR/USD; however, most analysts expect that interest rates will be kept low for the time being.  In the meantime, U.S. industrial production reports have beaten expectations, increasing by 1.3% during the month of November. Eurozone PMI data is due later today, however this report will likely not cause major movement unless it greatly deviates from expectations.

Crude oil

Currently trading at $55.71, crude oil has tumbled more than 4% from the $58.18 open. This is the fourth straight session of declines and crude oil is trading at new five-year lows. The decline came amid speculations the U.S. oil producers will increase their output in an attempt to battle OPEC and its members for market share. OPEC members have recently rejected the notion of cutting production and have instead opted to offer discounted oil in order maintain their own market share as U.S. oil production expands. At the same time, China, a major oil consumer has missed manufacturing estimates, indicating a further decrease in demand.

NASDAQ

The NASDAQ composite has fallen 48.44 points, or 1.04% and is currently trading at 4,605.16 as the biotech sector tumbles. The Nasdaq Biotechnology ETF dropped by 2.8%, weighing down on the index as low oil prices erode investor confidence in an already volatile trading session.

Economic Calendar

The Federal Open Market Committee is scheduled to make an announcement tomorrow regarding interest rates. While most estimate that no change will be announced, an interest rate hike will greatly impact the U.S. dollar. German PMI (purchasing managers’ index) and economic sentiment reports will be released later today.

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 November 30th

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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 has experienced a positive trading session on Friday, reacting to European inflation, employment and German retail sales reports. The European consumer price index (CPI), which provides a means of assessing inflation, has met expectations. Employment has also met expectations, remaining at 11.5% for the region. Additionally, German retail sales have beaten expectations. The currently low oil price will act against the European Central Bank’s aim to lower inflation and avert deflation. Expectations are that due to the low oil and gold price, European markets will open lower in Monday.

Crude Oil

Crude oil has lost another 2.28% and is currently trading at $64.75, a new five-year low. These dramatic declines continue following OPEC announcements from last week that oil production will not be held back in any way despite its low market price. Tumbling prices are also due to a somewhat aggressive tone from Saudi Arabia, which called to fight the growing US oil business. Estimates are that OPEC members can sustain oil prices as low as $60 per barrel, while some estimate that the higher production costs in the US cannot be supported with oil prices below $75 per barrel.

Dow Jones

The Dow Jones industrial average has gained nearly half a point to trade at 17,828.24 amid the low-volume trading due to the Holiday weekend in the US. However, the low oil prices have had a negative effect on energy shares, perhaps countering some of the recent gains seen in US indices when the markets re-open.

Economic Calendar

US and European manufacturing PMI is scheduled to release later today. Fed chairman Janet Yellen is scheduled to speak on Tuesday, although there are currently no expectations for major shifts in policy.

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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Daily Market Review for November 26th

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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

Overall, the US dollar lost some ground to most of its peers during the latest trading session. In the US, ten-year treasury bonds have dropped yield and November’s consumer sentiment survey has unexpectedly dropped at its fastest rate in the past 13 months. However, US GDP data was strong, showing 3.9% growth and a boost in personal consumption. In the meantime, the euro gained ground on most of peers during Tuesday but still not enough to turn the tide on the suffering currency. Current concerns revolve around a recent report that warns against excessive risk-taking in the region, perhaps referring to the massive expansion of measures meant to promote inflation put in place by the European Central Bank.

Crude Oil

Crude oil plunged over 2 percent during Tuesday’s session and as of this writing is trading at $74.56. These declines are attributed to a lack of any news from a preliminary gathering ahead of this week’s big OPEC gathering. Thursday’s meeting should be very significant to oil pricing, as most speculate that a cut to production will be announced in order to artificially boost oil pricing.

Dow Jones

The latest session broke a three-day positive run, with stocks trading in a narrow range as US consumer confidence dipped and many investors prepared for holiday travel. The Index closed with a 3-points drop and is currently trading at 17,814.94.

Economic Calendar

UK GDP data is scheduled for release later today.  In the meantime, most are looking forward to tomorrow’s OPEC gathering. Oil has been trading near multi-year lows and announcements detailing production cuts will likely boost oil’s performance.

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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