› Weekly Binary Options Review (Dec 4 - Dec 8)

Weekly Binary Options Review (Dec 4 - Dec 8)

Global financial markets have been so exciting this week because of market participants highly focusing on the Non-Farm Employment report in addition to a basket of high-profile economic data releases.
In this article, we would like to present the review of the binary options market during the period from Dec 4 to Dec 8, targeting the prospects of major currency pairs.

Monday saw UK’s Construction PMI come in, kicking off the market effervescence since the beginning of the week.
With the figure affirmed at 53.1, rising from its previous announcement of 50.8 and surpassing analysts’ expectations of 51.2, the Pound Sterling’s stabilization started last week has been accelerated.
However, concerns about UK PM Theresa May struggling to deal with European policymakers over Brexit have weighed on the British Pound and caused GBP/USD to seesaw in Monday’s final trading session.

RBNZ Governor Spencer’s speech on Tuesday, as widely expected, didn’t deliver any fuels for the New Zealand Dollar.
Therefore, NZD/USD traded on the defensive, also because all eyes remained on the Non-Farm Employment report printing on Friday.

The Australian Dollar’s rally popped right after Australia’s Current Account was divulged at -9.1B versus economists’ expectations of -8.8B, however, the single currency was finally saved by an optimistic Retail Sales report, which robustly advanced to 0.5% from the 0.1% level.
The Aussie - Greenback finished up Tuesday’s sessions not trading far from its open.

The GBP on the same day was hit since UK’s Services PMI dropped to 53.8 from 55.6. Despite U.S. ISM Non-Manufacturing PMI also declining to 57.4 from the November data of 60.1, the Sterling – US Dollar still pointed South as bears remained extremely aggressive.

In a separate development, Canada’s Trade Balance came in positively, climbing to -1.5B from the prior data of -3.4B.
Howbeit, the announcement had been fully priced-in last week, hence, USD/CAD surprised traders by a higher move on the outcome.

Wednesday witnessed the Aussie turn lower in response to the negative GDP report, which descended to 0.6% from 0.9%.
Coupled with ADP Non-Farm Employment Change reported at 190K versus economists’ gloomy prediction of 189K, lots of selling opportunities have been appearing on AUD/USD.

Meanwhile, the Bank of Canada fairly disappointed traders with its plan to maintain interest rates at 1.0% in the mid-term.
The Greenback – Loonie’s strength has been improved thanks to the BOC boss’ dovish tune regarding monetary policy.

Australia’s Trade Balance printing on Thursday continued to send the Aussie lower against its crosses as the figure sharply plunged to 0.11B from the previous level of 1.60B.
In all likelihood, traders have found a lot of good bearish signals on the Australian Dollar – Greenback because the US Dollar remained firm on the Unemployment Claims report, which gently slid to 236K from 238K.

Friday finally came with the market highly focusing on the week’s most significant release.
And, traders’ expectations for a stronger US Dollar have been boosted as U.S. Non-Farm Employment Change was confirmed at 228K versus worries that the figure might just print at 198K.
Howbeit, as we had forecasted earlier, the Average Hourly Earnings came in below anticipation, causing conflicting moves. EUR/USD unexpectedly traded higher on the outcomes, while GBP/USD’s decline continued, aggravated by U.K. Manufacturing Production sharply falling to 0.1% from 0.7%.

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