› Weekly Binary Options Review (Nov 13 - Nov 17)

Weekly Binary Options Review (Nov 13 - Nov 17)

Another buoyant week of global financial markets has been recorded, with a string of significant economic data releases along with Central Bankers entering the spotlight.
In this article, we would like to present the review of the binary options market during the period from Nov 13 to Nov 17, targeting to the prospects of major currency pairs.

The dovish rhetoric of Bank of Japan President Haruhiko Kuroda that the BOJ would continue to persist with “powerful monetary easing” to nurture positive inflation developments from earlier this week couldn’t boost the dollar-yen exchange because of the Greenback’s strong selling momentum entering the game.
USD/JPY has spent Monday’s session heading lower, paving the way for its retreatment during the week.

This Tuesday became more effervescent since the market had earlier focused on the series of speeches from central bank’s bosses.
As widely expected, European Central Bank Governor Mario Draghi remained in no rush to move away from the easing-cycle as an interest rate hike was planned to be implemented by the beginning of 2018.
However, the US Dollar’s devaluation continued, making the euro-dollar exchange soar in the three trading sessions of Nov 13.

The interest rate hike last month seemed to accomplish the Bank Of England’s job in 2017 because in this meeting Governor Mark Carney emerged no guidance about the next steps to tighten monetary policy.
Of course, traders still favored the Sterling – Greenback due to a weaker US dollar.

Fed Chair Yellen’s speech took place at last but delivered no stimuli for USD, leaving it freely swimming in the “sell-off” current.

On the same day, there were some crucial announcements printing.
China’s Industrial Production rate was affirmed at 6.2%, down from its previous report of 6.6%. U.K. CPI was divulged at 3.0% which was equal to its October level, while U.S. PPI remained at 0.4% instead of dropping as economist’s forecasts.

Wednesday continued the volatile series with plenty of core-core economic releases.
U.S. CPI came in declining to 0.1% from its 0.5% level exactly as analysts’ anticipation. U.S. Core CPI gently rose to 0.2%, also exactly as trader’s expectations.
Meanwhile, the core Retail Sales plunged sharply to 0.1% from its last figure of 1.2%, in addition to U.S. Retail Sales strongly descending around 1.7%.
Both of the news accelerated the Greenback’s deterioration during this week.

In a separate development, U.K. Average Earnings Index slightly slipped to an annualized 2.2% versus the predicted 2.1%.
Pound Sterling has been seesawing on that outcome.

Australia’s Employment Change & Unemployment Rate began Thursday’s effervescence.
The Australian economy this time had to witness a negative shrinkage of 22.9K in the employment data, however, the Unemployment rate saved AUD bulls by a reach to the new record low of 5.4%.
The Aussie has been fluctuating on the conflicting news.

Meanwhile, U.K. Retail Sales lightened the Sterling against Brexit by a strong increase to 0.3% from the negative number of -0.7% reported in October.
Combined with the US Dollar pushed lower because U.S. Unemployment Claims climbed to 249K versus its previous 239K, GBP/USD found itself ascending on Nov 16, bringing jubilation to binary options traders who hold call positions.

By the end of this week, Canada’s CPI reported decreasing by 0.1% along with U.S. Building Permits mounting to 1.30M from its last broadcast of 1.25M delivered fuels to the Greenback – Loonie.

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