MobOption

27/10/2016

Daily Market Overview – 27/10/2016

Yesterday the USD printed stronger than expected economic data, enough to keep hawkish Fed expectations in play. The flash services PMI for October jumped from an upgraded 52.3 reading to 54.8 to reflect a much faster pace of industry expansion compared to the estimated rise to 52.4 as a result the EUR/USD pair fell from a high of 1.0947 to a low of 1.0898
Oil fell down to a three-week low as industry data showed US crude stockpiles rose while doubts grew about Russian willingness to cooperate with OPEC in curbing supply and has fluctuated near $50 a barrel amid uncertainty about whether the Organization of Petroleum Exporting Countries (OPEC) can implement the first output cuts in eight years and get producers outside the group to join in, notably Russia.
Gold pushed lower Wednesday after the release of U.S. new home sales, which despite missing expectations, were up almost 30% compared to last year. and after hitting a three-week high overnight, gold prices were modestly lower, dipping below the 200-day moving average and experts are mixed as to where prices are headed next in this current consolidation phase.

Key Market data Thursday – October 27th:
(All times below are GMT)

08:30 – GBP: GDP
12:30 – USA: Core Goods orders
14:00 – USA: Pending Home Sales

Trade 60 second options, commodities, indices, stocks and forex on the leading binary options platform. MobOption is a fully regulated and licensed...

01/06/2016

Daily market overview – 01/06/2016

The USD index finished the month of May with its strongest performance since December on increased expectations for a June or July U.S. interest rate hike with that threat of a U.S. interest rate hike sooner-rather-than-later by the Fed also put pressure on the EUR/USD all month. Simply stated, the U.S. economy is strengthening slowly, but at a faster pace than the European economy. While the Fed is considering raising rates, the European Central Bank is likely trying to figure out additional means of stimulation.

Crude Oil featured a two-sided trade on Tuesday before finishing higher for the fourth monthly gain. The market was underpinned by investors betting on higher U.S. fuel demand as peak driving season arrived in the No. 1 oil consumer.

Gold is trading modestly higher today after probing yesterday briefly below $1200 in thin holiday trading on Monday. The yellow metal remains generally defensive amid revived expectations in recent weeks that the Fed will hike rates this summer.

Bitcoin is a web-based "cryptocurrency" that can move money across the globe quickly and anonymously with no need for a central authority .The Bitcoin price climb yesterday to almost two years high, with a price tag of over 540 $ per unit.

Wednesday – June 1st:
01:00 - CNY: Manufacturing PMI.
01:30 – AUD: GDP.
07:55 – EUR: German.
12:15 – USD: ADP Nonfarm Employment Change.
14:00 – USD: ISM Manufacturing PMI

05/05/2016

Daily market overview – 05/05/2016

Wednesday was red again, as disappointing US data dragged Wall-Streets main indices to descents of around 0.6%, while Europe's main exchanges suffered as well, with the DAX30, CAC40 and FTSE100 all loosing around 1%. The ADP employment survey was lower than expected with an addition of 156K jobs compared to an expected 196K, upgrading the tension before tomorrow's NFP report.

The USD is slightly on the fence for now, with its index steady since yesterday around 93.2$. The EUR/USD pair is still trading around the 1.15 mark, while the USD/JPY has slightly recovered from its multi-year lows around 105.5 reached on Monday, and is currently trading around 107.

Oil prices remain firm near yearly highs close to 45$, despite higher than expected crude oil supply data from yesterday. Meanwhile, with similarity to the USD, Gold prices remain around 1280$, slightly of its fresh 15 month high.

Key Market Data Today:

08:30 – GBP: ADP Nonfarm Employment change.
12:30 – USD: Initial Jobless claims.

04/05/2016

Daily market overview – 04/05/2016

Wall-Street ad another Red day yesterday, following a grim closing in Europe after the Euro zone growth expectations were cut from 1.7% to 1.6% in 2016. The US leading indices all lost around 1%, while in Europe the DAX dropped 1.95% and the CAC40 lost 1.6%.

The Dollar had a wild day yesterday, as the EUR/USD briefly touched 1.16 for the first time in over a year, before turning the table and dropping over 100 pips below 1.15. The sentiment is still negative on the Greenback, and the market in waiting for Friday's NFP report, to perhaps get a better glimpse of what the near future holds for the Dollar.

After a long steady climb, commodity prices stumbled yesterday. Oil prices dropped 2%, falling below 44$, while gold prices backed off recent 15 month high near 1300$, and are currently trading around 1280$.

Key Market Data Today:
12:15 – USD: ADP Nonfarm Employment change.
14:00 – USD: ISD non-manufacturing PMI.

14/04/2016

Daily market overview – 14/04/2016
Wednesday was a green day across the board, as report season opened on a positive note, and Wall-Street's main indices gained handsomely. The S&P500 and the DOW both ascended by 1%, while the NASDAQ saw a 1.5% rise. The big banks will continue to publish their earnings reports in the next couple of days, with Bank of America and City Bank on deck.
The USD finally showed some life yesterday, having its first significantly good day in a while. The USD index gained around 1%, reaching an 8 day high above 95$. The EUR/USD broke below 1.13 for the first time in over 2 weeks, notching a descent of over 100 pips. The USD/JPY also bounced back from its recent 18 month low below 108, inching back above 109.
Oil prices remain highly volatile, losing some ground yesterday after a 4% gain on Tuesday. The Black-Gold in now trading around 41$ for Crude Oil, after reaching a yearly high above 42$.

Key Market Data Today:
09:00 – EUR: CPI.
11:00 – GBP: Interest Rate Decision.
12:30 – USD: Core CPI. http://ht.ly/10EadN

Trade 60 second options, commodities, indices, stocks and forex on the leading binary options platform. MobOption is a fully regulated and licensed...

13/04/2016

Brexit would not bring about better deal on trade – Lord Hill http://ow.ly/3ds943

UK’s European commissioner says people voting to leave the EU should not expect improved terms for Britain

12/04/2016

A Stronger Yen Is Positive For Gold, US Inflation Expectations http://ow.ly/3dsahF

Since the financial crisis, a stronger yen has generally been associated with rising inflation and inflation expectations in the US.

31/03/2016

Daily market overview – 31/03/2016
Fed chair Yellen's comments from earlier this week are still echoing on Wall-Street, as its main indices closed green for a 3rd straight day, registering a rise of around 0.5%, and heading for gains of over 5% in March.
The USD remained soft, as expectations of a delay in future Fed rate hikes are mounting difficulties for the Greenback. The EUR/USD continued trading above 1.13, with an apparent resistance line around 1.1340. The market is eagerly awaiting tomorrow's NFP report for further hints regarding the Fed's next hikes and the Greenback's near future.
Oil prices remained highly volatile on Wednesday, and conflicting supply reports cause the black-gold to overturn a 4% rise to a 1% loss. The weekly US crude inventory report showed a more modest build than expected, but shortly after the release news spread the OPEC's output has risen in December. Crude prices are currently trading around 38$, and could remain volatile in the upcoming future.

Key Market Data Today:
07:55 - EUR: German Unemployment Change.
08:30 – GBP: GDP.
09:00 – EUR: CPI.
12:30 – CAD: GDP. http://ht.ly/107iFq

21/03/2016

Weekly market overview – 21/03/2016

The market continued its recent rally last week following the Fed's declared intent to reduce the amount of rate hikes this year. Wall-Street's main indices continue to rise, as the S&P500 notched a weekly gain of 1.3%, entering positive territory for 2016. The DOW ascended 2.3% on the week, on a 6 day green streak, while the NASDAQ gained 1%.
As expected, the Fed's rate forecast didn't agree with the USD, which is having its worst 3 week span in over 4 years. The Greenback lost about 1% on the week against the EUR, with the EUR/USD pair trading close to 1.13, and over 2% against the JPY, as the USD/JPY dropped to 111 levels.
Oil prices climbed for the 5th straight week, surpassing 40$, registering a gain of over 50% since its 13 year low just 6 weeks ago. Gold prices cooled off a bit after the Fed's announcement that sparked the metal to 1270$ areas, and has since descended about 2% to around 1240$.

Key Market data this week:

Monday – March 20th:
14:00 – USD: Existing Home Sales.

Tuesday – March 21st:
08:30 – EUR: German Manufacturing PMI.
09:30 - GBP: CPI

Wednesday – March 22nd:
14:00 – USD: New Home Sales.

Thursday – March 21st:
09:30 – GBP: Retail Sales.
12:30 – USD: Core Durable Goods Orders.

Friday – March 22nd:
Good Friday – Market Holiday.
http://ht.ly/ZJTS3

17/03/2016

Daily market overview – 17/03/2016

The Federal Reserve left interest rate at 0.5% yesterday as expected, but lowered its projection to the end of the year to 0.9%, stating that inflation is expected to remain low in the near future.
Wall-Street took well to the Fed's announcement of relative monetary easing, sending its main indices to modest gains of around 0.5%, with the S&P500 at its highest point of 2016. Oil prices notched a sharp 5% gain following the Fed's statement and Crude inventories release, and are currently trading at a 9 month high near 40$.
The decrease in the interest rate projection sent the USD on a downslide as expected, as its index lost 1.5%, sliding down to 95.5$. The EUR/USD pair was trading around 1.105 before the FOMC statement, and ascended close to 200 pip following, currently trading close to 1.1250. The 1.12 border seems like a resistance line turned support, and could prove a test if the Greenback regains some of its lost strength.

Key Market Data Today:

10:00 - EUR: CPI
12:00 – GBP: Interest Rate Decision.
12:30 – USD: Philadelphia Fed Manufacturing Index. http://ht.ly/ZADZG

16/03/2016

Daily market overview – 16/03/2016

It's time for another Fed rate decision today, and although most analysts agree that a rate hike is unlikely today, the Fed's economic predictions and Fed chair Yellen's speech always attract much attention, with hope of hints of future monetary steps.
Wall-Street ended rather flat yesterday in anticipation to today's Fed announcement. The S&P500 shed 0.2%, the NASDAQ lost 0.45%, while the DOW gained a modest 0.13%.
The USD is still seeking direction following last week's turmoil after the extension of the ECB QE program. The USD index has gained close to 1% so far this week and is currently slightly below 97$. The EUR/USD has spent the last couple of days hovering around 1.110, with resistance received several times around 1.112.
Oil prices descended over 2% yesterday, trading below 37$, ahead of today's Crude Supply update. Gold prices are also on the down side, currently trading around 1230$, down 4% from its 12 month high reached last week.

Key Market Data Today:

09:30 – GBP: Climate count change.
12:30 – USD: Core CPI.
18:00 – USD: Interest Rate Decision.
http://ht.ly/ZwB85