Daily Market Review for February 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

The pair remained steady during Wednesday’s session and is currently trading at 1.1366 after slight gains made by the euro. The U.S. dollar index, which compared the dollar against a number of its peers, declined as the Federal Reserve’s Chair, Janet Yellen, proceeded to her second day of testimony to U.S. lawmakers. Yellen stated that the Federal Reserve will remain patient in its decision regarding interest rates. However, Yellen also noted that the use of such terms would be dropped before rates go up. Recent Eurozone data has shown an annual growth rate of 1.6%, above expectations and an improvement over last quarter. Furthermore, strong consumer spending helped drive growth during the last quarter. Traders will be looking forward to GDP and CPI data due to release later today.

Crude Oil

Crude oil declined 0.27% to trade at $50.85. Expectations that U.S. supplies increased have created concerns over the possibility of a shortage on storage facilities. Historically, similar situation have created a very strong reaction from the markets, making some analysts estimate that oil prices could decline significantly. In the meantime, the largest U.S. refinery strike since 1980 has entered its 25th day, with no resolution in sight.

Dow Jones

The Dow Jones industrial average hit its third record-close in a row on Wednesday’s session, while other major indices were down. Trading was in relatively small volumes as investors reviewed the latest corporate earnings reports. Energy-related stock rebounded as oil prices climbed back above $50.

Economic Calendar

Eurozone GDP and CPI data are scheduled to release 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 February 25th

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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 euro remained strong against the dollar, gaining 0.1% to trade 1.1352. Greece has offered its creditors a set of reforms yesterday in exchange for an extension of its bailout program. While the offer has been accepted, giving Greece a critical financial lifeline for the next four months, creditors urged Greece to expand these reforms in order to maintain fiscal responsibility. In Europe, German GDP had beaten expectations while Eurozone consumer price data (CPI) had met expectations, showing sign of deflation. In the U.S., the Federal Reserve’s chair, Janet Yellen, testified in front of the U.S. senate but had not provided any concrete clues as to when an interest rate hike will eventually occur.

Crude Oil

Crude oil declined 0.26% (13 cents) to trade at $49.15. Declines were the result of estimates pointing towards another increase in U.S. crude inventories, despite news that a number of Libyan oilfields had been shut down. Furthermore, several OPEC members had expressed concern over lower oil prices, promoting the notion of production cut-backs.

S&P 500

The Standard and Poor’s 500 Index had gained 5.82 points (0.28%) to trade at 2,115.48, hitting a new record. Stocks were trading positively and in high volumes following news of a temporary resolution of the Greek-Eurozone crisis. Greece’s offer had been accepted, granting them an extension of the current bailout program.

Economic Calendar

The EIA’s (Energy Information Association) report regarding U.S. oil stockpiles will be released later today, followed by Eurozone GDP and employment data on Thursday.

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 February 24th

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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 EUR/USD declined nearly half a percent to trade at 1.1331 following news that Greece had missed its deadlines to submit its fiscal policies as part of its bailout extension agreement. Instead, Greece will submit a list of reforms on Tuesday. No official had been given for the delay, creating some concern. The reforms will be designed to fight tax evasion, corruption and easily given loans. However, sources claim that the proposed Greek policies are likely to clash with German interests, namely to implement more measures to control Greece’s budget deficit. Currently, Greek debt is 1.75 times its GDP. In the meantime, German business climate and expectations reports missed forecasts, adding to Eurozone concerns.

Crude Oil

Crude oil declined more than 3% to trade at $49.25 as news of an emergency OPEC meeting were discredited by officials. Early on Monday it was reported that OPEC’s current policy of high-volume production has lowered prices to a point that some OPEC members can no longer sustain, causing oil prices to surge. However, a more up-to-date statement indicated that no such meeting was planned, bringing oil prices back down.

S&P 500

The Standard and Poor’s 500 Index fell 0.06% from its record-high to trade at 2,0109.66. U.S. stocks fluctuated on Monday, with high variability between sectors. Financial shares declined, healthcare saw gains and energy-related stocks remained static.

Economic Calendar

Scheduled to release later today are European GDP and CPI (consumer price index, an inflationary indicator) data. Tomorrow, the Federal Reserve’s chair Janet Yellen is scheduled to testify in front of the U.S. senate, garnering the attention of traders looking for clues regarding an interest rate hike.

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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