› Weekly Binary Options Review (Nov 20 - Nov 24)

Weekly Binary Options Review (Nov 20 - Nov 24)

Global financial markets had another week buoyantly fluctuating on Central Bankers’ important speeches along with a series of significant economic announcements.
In this article, we would like to present the review of the binary options market during the period from Nov 20 to Nov 24, targeting to the prospects of major currency pairs.

Instead of remaining wishy-washy as usual, the beginning of this week saw the Euro-currencies gambol on European Central Bank President Mario Draghi’s crucial speech regarding monetary policy.
The ECB’s boss remained extremely accommodative with his loose monetary settings, suggesting that the tightening timeline might be pushed back. However, despite trader’s expectations on the single currency almost collapsing,
EUR/USD ended up Monday’s sessions in green thanks to the Greenback weakening.

The RBA’s minutes, with growth and inflation reports overshadowing economic outlook, further reinforced Reserve Bank of Australia Governor Philip Lowe’s perspective that a weaker Aussie “will be better the Australian economy”.
Hence, worries that the Aussie’s snarl-up might endure have built a strong bearish momentum, driving the Australian Dollar lower in Asian hours.
However, the US Dollar devaluation has finally submitted the AUD/USD sell side, making the currency pair amazingly reverse to rise in Tuesday’s New York trading session.

The Greenback deterioration was sharply accelerated on Wednesday this week because of the U.S. Core Durable Goods Orders figure affirmed at 0.4%, sharply dropping compared to its modified October reading of 1.1%.
Shrugging off the Unemployment Claims report which positively descended to 239K from the previous release of 252K, the US Dollar kept trading lower versus its counterparts, delivering jubilation to the binary options traders who held call positions on the cross – USD currency pairs.

FOMC meeting minutes taking place amid officials’ concerns over financial market imbalances continued to push the US Dollar lower against its G10 FX crosses.
In all likelihood, market participants holding bullish orders versus the Greenback have celebrated following the conference.

On the same day, Fed Chair Janet Yellen also had an important speech.
However, no hints about the Fed’s monetary policy tightening plans were dropped.

In a separate development, New Zealand’s economic outlook was hit by the Retail Sales report, which strongly dropped to an annualized rate of 0.2% versus analysts’ prediction of 0.4% and the previous announcement of 1.8%.
Howbeit, the Kiwi - Greenback bearish traders were overwhelmed by the buy side thanks to the weaker US Dollar.

UK’s economy continued to show signs of vulnerability since the Second Estimate GDP rate broadcast on Thursday this week remained at an annualized 0.4%.
Pound Sterling found itself heading lower against its counterparts on the outcome, except the Greenback.

On the same day. Canada’s Core Retail Sales printed at 0.3%, vigorously advancing from its prior report of -0.4%.
However, the data was below trader’s expectations of 0.9%, making the Canadian Dollar stymie.

Nov 23 also saw Swiss National Bank Chairman Jordan speak but no stimuli were delivered for the Swiss Franc because the CHF remained overvalued in the SNB boss’ eyes.

The end of this week was quite steady as there were no significant economic data releases.
Most currency pairs followed technical indicators’ guidance and fundamental developments during the week.


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