Daily Market Review for October 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 is down 0.33% and currently trading at 1.2596 despite the FOMC’s positive statements made yesterday regarding the US dollar. The Federal Open Market Committee announced yesterday that it will end its quantitative easing program and expressed a very positive tone regarding future monetary policy. However, with no new announcements regarding interest rates, the US dollar quickly lost momentum against the euro.

Natural Gas – Natural gas has had an uncertain week gains as many weather forecasts predict cold temperatures entering the US from Canada, only to be replaced with other forecasts predicting warm temperatures. Currently, natural gas is trading at 3.715, 32 points down as traders anticipate the next EIA inventory report in order to estimate how demand may shift prices. Weather is one of the key factors that affect natural gas price. As temperatures reach high or low extremes, a reliance on gas for cooling or heating increases demand and drives prices up.

NASDAQ – The index is down 15.07 points and currently trading at 4549.23 following the Federal Open Market Committee’s statements. The statements resulted in a bit of confusion, causing the NASDAQ to react erratically at first. However, the NASDAQ is expected to regain momentum and go higher shortly.

Economic Calendar – In the US, upcoming data releases include oil and energy reports. In the EU, German unemployment data is due to release later today (Thursday) with an expected slowdown.

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 29th

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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

Currently trading at 1.2736, the pair lost a few points from the previous session. With no significant data releases in the recent days, most traders are looking ahead to next Federal Open Market Committee (FOMC) next week for any information regarding a possible interest rate increase. An increase in borrowing costs tends to curtail market expansion as the public generally has fewer dollars to spend, possibly offering a leeway for the struggling euro. In the US, Consumer Confidence has fared much better than anticipated, reaching levels not seen since 2007. At the same time, Durable Goods and Service PMI data were disappointing in the US.

Crude Oil

In a surprise move, oil gained 15 cents and broke the downtrend to trade at $81.16. Negative performance seen in the US dollar on Monday has pushed oil higher as a weaker dollar allows global consumers to buy dollar-denominated goods such as oil. Oil stockpiles continue to grow and demand still hasn’t offered any significant support for oil prices.

Dow Jones 30

The Dow Jones saw significant gains during Tuesday’s session, gaining 187.81 points (1.12%) and currently trading at 17,005.75 – past the 17,000 level which many have speculated would be resistive. It is likely that a temporary pullback will push the index down before going back up, providing an ideal buying opportunity.

Economic Calendar

In the US, data releases include mostly mortgage and housing data, as well as oil and energy reports. In the EU, German unemployment data is due to release on Thursday with an expected slowdown which may weigh down the euro.

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 October 28th

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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 0.18% and is currently trading at 1.2698 as the relatively positive results of the European Central Bank’s review of banks operating within the European Union. It was found that most banks that faced a capital shortage in the previous year have already been able remedy the situation. The European Central Bank is also scheduled to reveal its spending within the recent bond-buying program in an effort to promote inflation. Furthermore, if last week’s positive PMI data from Germany are an indication, the upcoming Business Climate report can potentially push the pair even higher.

Crude Oil

– Crude oil lost 0.34% and is currently trading at $79.92 as its downtrend continues. 2015 is looking to be a year in which prices are weighed down due to oversupply. Oil production has greatly expanded in the US while many other countries have remained at the same or moved to higher production rates. OPEC countries are avoiding production cuts and Russia has increased production while sanctions against it are in place. This has created a situation in which there is such an abundance of stock that prices are nearing multiyear lows.

NASDAQ

The index started Monday’s trading session with losses but quickly recuperated and finished the day with a 0.05% increase to trade at 4,485.93. Current expectations are that NASDAQ will continue to go higher, possibly approaching the 4600 level.

Economic Calendar

Upcoming releases include German Import Price, US Durable Goods Orders and Consumer Orders.

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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