Daily Market Review for October 23rd

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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 continued yesterday’s fall with another 26 point decline and is currently trading at 1.2690. The news that the European Central Bank will commence its asset-backed corporate bonds buyout are seen as one of the first steps in a larger scale easing program. In another concern-inspiring bit of news from the region, five EU nations, including France and Italy, as well as Austria Slovenia and Malta will receive warnings today from the European Commission due to budget plans that may breach Eurozone rules. In the meantime, the west continues its fight against emerging terrorist groups in the Middle East with mixed success so far, possibly pulling down the US dollar, meaning that the euro’s declines against the dollar could be more significant.

Crude Oil

Crude oil is down just $0.1 USD following a directionless Wednesday trading session to trade at $82.39. Currently, the main concerns over oil prices are oversupplied stockpiles and increased production when demand is not meeting expectations. While Russia is increasing production in order to offset losses due to the sanctions held against it, Saudi Arabia, Libya and Iraq continue to over-produce and offer discounts to certain markets. These, quite surprisingly have more impact than the fighting in the Middle East, which have not stalled production as seen in previous conflicts.

NASDAQ

The NASDAQ saw a 0.83% decline during Wednesday’s session, erasing some the gains seen on Tuesday. However, estimates are still in its favor. Many of the components that comprise the index have moved up, pointing toward a more limited decline with stronger components.

Economic Calendar

US – Jobless claims and housing price reports are due later today. Both employment and housing prices played a major role in the US economy lately. First, the house price index was a key statistic during the recovery from 2008’s recession. Employment data has also helped in increasing the dollar’s strength earlier this month, when remarkably positive figures have been released.

EU – Service, marketing and composite purchasing managers index (PMI) will be released for both Germany and the entire EU. This data is considered to be a major indication of overall economic health, and positive data can have a strong lifting effect on the currency.

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 22nd

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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 52 points during Tuesday’s trading day and is currently trading at 1.2748. The US dollar showed strength against many of its peers while at the same time the European Central Bank lowered its economic outlook for Germany, one of the major driving forces of the Eurozone economy. Although there is no new data releases set for today, the recent asset-backed bond acquisition program will likely not be enough to boost the Eurozone’s low inflation according to a estimates. The sharp decline seen yesterday is mostly due to the announcement that this program will commence in the near future.

Gold

Gold gained $4.3 and is currently trading at $1249. Despite the dollar’s relative strength, worries over a slowdown in global growth are pushing gold prices higher as a safe-haven investment for many traders. However, not all regions are showing a slowdown, with China’s GDP reportedly up 7.3%, above previous expectation of 7.2%. China, being a major consumer of gold should therefore provide some support for gold prices despite the concerns for global growth at the moment.

Dow Jones

The Dow Jones saw large gains during Tuesday’s trading session, giving rise to expectations of a continued rally. Gaining 1.31%, the Dow Jones is currently trading at 16614.81, with expectations aiming at the 17000 level as far as future gains are concerned. While most of the companies that comprise the index have been seeing increases in asset prices, three of the major motive forces of the index, McDonald’s, Coca Cola and IBM have been pulling it down. All three reported low profits and have readjusted forecasts to lower levels.

Economic Calendar

Later today, data releases regarding mortgages, crude oil inventories and consumer price indices will be released in the US. Declines are expected for these reports, likely affecting prices for the rest of the day.

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 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.
GD Star Rating
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