Daily Market Review for August 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 is down 15 points and trading at 1.3348 as its downward trend continues. The German central bank announced that the Eurozone’s economic growth is expected to slow down during the rest of the year due to the Ukrainian conflict which weighs down on business confidence. Traders have bought in to the US dollar’s recent rally against the euro and the currency’s lack of ability to break past resistance points leaves it at risk. The US dollar index, a composite that pits the dollar against a group of currencies is up from 81.436 to 81.572 as of Friday. Monday has shown home-builder confidence has risen to its highest level in the last 7 months.  On Thursday the annual meeting of central bankers will occur. It is expected that Janet Yellen, the Federal Reserve’s chairwoman will argue for decreased lending rates, which are currently near zero.

Natural Gas

Recovering some losses, gas is currently trading at 3.815. Gains are attributed to traders buying in ahead of this week’s inventory report. However, the CPC forecast for the next 10 days reaffirms the shift to warmer temperatures mostly in the western areas of the US. Until winter, when demand for gas is increased for heating purposes, the current moderate weather will reduce demand for gas consuming devices, thus pulling down on prices.

US Dollar Index

the dollar index bounced off the 81.40 level, pointing towards continuing consolidation for the time-being. Breaking above 81.60, which is not a long way from the current 81.572, should indicate that the market is on its way up. Long term predictions are aiming at 84 as the target level. Overall, traders are not selling at the moment and continue to hold a positive outlook for the index.

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 August 18th

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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 19 points and is trading at 1.3384 as last week saw the USD lose some of its momentum against the Euro seen in the last several weeks. Thursday saw the release of data that indicates the Eurozone has stalled during its second quarter, with Germany showing contractions and inflation slowing down. Although some gains were seen, European data alone may be enough to stop any future gains for the pair in the short-term, analysts say. At the same time, worries over east-west relations and the ongoing conflict in the Ukraine continue to act against both the USD and the Euro.

Crude Oil

Oil has gained 12 cents following several days of decline and is currently trading at 97.50 – the EIA’s target price for 2014. The Islamic state movement in Iraq continues to dominate local tensions. While the Islamic State holds many areas in the north of Iraq, they have not yet reached the more oil-rich south, keeping supplies at their norm. Furthermore, according to the EIA, the price will likely stay its course with supplies staying undisrupted amid a plethora of geopolitical forces, including sanctions against Russian oil.

S&P 500

During the Friday session the index initially fell but has still managed to make significant gains and form a hammer that is just below a consolidation area, pointing towards an uncertain trend, at least in the short-term. However, news is spreading that the Soros Fund has increased its put position against the S&P 500, totaling at $2.2 billion. Whether this is an indication for what is to come remains to be seen, however it may prove to push the market down and end the positive trend seen in the index as of late.

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 August 14th

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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!

GBP/USD

The pair fell 103 points on yesterday’s session and so far today, following another fall is trading at 1.6676. This comes at the heels of positive employment data that brought a spike prior to the downturn. Currently, the GBP is on a 2-month low against the USD as many traders were left disappointed that the Bank of England will likely not increase interest rates. Furthermore, the BoE cut its forecast for wage growth this year. Early on Wednesday, the GBP climbed following a drop in unemployment to 6.4% – the lowest since late 2008. Later on, it was noted that wages will be falling for the first time since 2009. However, not all in the UK are unpleased with this – many major British exporters are welcoming a weaker GBP as a means to boost their revenues.

Copper

The metal fell 18 points to trade at 3.137 – a 7-week low. This came following a weakening in Chinese industrial production which accounts for the biggest consumer of the metal. Further contributing to the fall was an influx in inventory and production. Inventories have increased by 0.5% in major storages, the largest gain since last month. Glencore, one of the world’s largest mining companies, have reported that copper production has been increased by 2.5%.

NIKKEI

The NIKKEI enjoyed a positive Wednesday session and stayed around the 15200 yen level. Should the NIKKEI see an additional rise towards 15250, it is expected that traders will start buying and push the index closer to 15600 which will serve as a new support level. Overall, the market is bullish, justifying a buy whenever hitting any temporary lows.

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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