› Weekly Binary Options Review (Feb 12 – Feb 16)

Weekly Binary Options Review (Feb 12 – Feb 16)

In this article, we would like to present the review of the binary options market during the period from Feb 12 to Feb 16, targeting the prospects of major instruments.

This Monday remained wishy-washy because there were no important economic data releases presenting. Greenback bears were back in play, pushing the USD sharply lower and making most of the currencies – US Dollar surging.
Tuesday this week witnessed the UK’s CPI y/y confirmed at 3.0% which was equal to the last announcement, smashing economists’ gloomy forecasts about a decrease to 2.9%. The British Pound has recorded a positive day moving higher versus its G10 FX counterparts, delivering jubilation to the binary options traders who went long on the Cable – currencies.

Weekly Binary Options Review (Feb 12 – Feb 16)

The middle of the week brought a load of U.S. high-profile reports, leading the Greenback to be extremely volatile the whole day. U.S. CPI m/m was divulged advancing to 0.5%, 0.4% higher than its previous release and also exceeding analysts’ expectations of 0.3%. Alongside, Core CPI m/m remained firm at 0.3% instead of dropping as it had been predicted earlier, sending the USD higher versus major currencies. Nevertheless, USD bulls quickly left the game later since Core Retail Sales was broadcast descending to the no-growth level from the prior 0.1%, breaking expectations for a surge to 0.5%. Retail Sales m/m also put a dent in the Greenback as the figure plunged to -0.3% from 0.0%. In conclusion, the US Dollar ended up the day’s sessions heading lower, driving most of the cross – USD pairs to ascend.
In a separate development, the New Zealand Dollar was motivated by Inflation Expectations q/q which increased to an annualized 2.1% from the past level of 2.0%. Coupled with a weaker Greenback, the Kiwi – US Dollar has marked a sanguine day impressively soaring, delighting NZD/USD callers.

On the same day, U.S. Crude Oil Inventories changed slightly lower to 1.8M against its previous 1.9M. Oil prices posted a strong rally against the backdrop of the release as investors’ joyful mood was stabilized.

Thursday this week brought a lot of high impact economic releases with Australia’s Employment Change and Unemployment Rate sparking off the excitement first. With the conflicting data, the Australian Dollar printed a fluctuation, however, it finally finished up the day optimistically. The Aussie – Greenback still traded higher than Thursday’s open regardless of U.S. PPI climbing to 0.4% from its previous reading of -0.1%.
In a separate development, the New Zealand Dollar continued to receive good news because ’s Business NZ Manufacturing Index rose to 55.6 from 51.1. The NZD/USD currency pair was stimulated on the report.

Feb 15 also witnessed Reserve Bank of Australia President Philip Lowe speak. His speech just mentioned Trump inflation threat and no hints at monetary policy were dropped.

By the end of the week, the Pound Sterling made a robust bullish movement versus its namesakes on the back of UK’s Retail Sales m/m ascending to 0.1% from its previous announcement of -1.4%. However, in the week’s last New York trading session, GBP/USD amounted to turn lower since U.S. Building Permits advanced to 1.40M from the prior figure of 1.30M.

This week was a positive affair for the world’s most famous cryptocurrency with the buy side prevailing over bears. At the time of writing, BTC/USD has turned above the $10,000 important threshold, trading around $10,500.

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