› Weekly Binary Options Review (Apr 15 - Apr 21)

Weekly Binary Options Review (Apr 15 - Apr 21)

In this article, we would like to present the review of the binary options market during the period from Apr 16 to Apr 20, targeting the prospects of major instruments.
Earlier this week brought two high-profile economic data releases out of the United States. U.S. Core Retail Sales m/m remained at 0.2%, exactly as economists had calculated. Meanwhile, Retail Sales m/m data printed a surge to 0.6% from the previous announcement of -0.1%, well-surpassing forecasts for an advance to 0.4%. Nevertheless, the Greenback responded quite pessimistically to the releases, paving the way for the currency – USD pairs to mount. USD bulls have absolutely been shell-shocked on the Greenback’s Monday development.

Tuesday came with the Reserve Bank of Australia’s Monetary Policy Meeting Minutes sparking off the volatile environment first. Despite Australia’s economic outlook remaining not really bad, President Philip Lowe continued in no rush to raise the benchmark interest rate. Since the Aussie traders have been too familiar with this dovish contention, the Australian Dollar only declined slightly against its counterparts on the announcement. AUD/USD also finished up the day’s sessions suffering a small loss.

Reserve Bank of Australia
Source: Financial Review

China’s economic growth continued to pick up consistently since the GDP q/y report on the same day marked a steady rise at 6.8% which was equal to its prior level. The CNY found itself climbing well versus major currencies on the release.

In the meantime, the Pound Sterling was hit due to UK’s Average Earnings Index 3m/y remaining at 2.8%, underperforming analysts’ expectations for an advance to 3.0%. The Cable – Greenback exchange found its early gain removed completely after the actual information of the report is confirmed.
The final item of interest on Tuesday was the U.S. Building Permits announcement. The USD was stabilized as the data was broadcast at 1.35M, 0.3M higher compared to its previous 1.32M.

The Canadian Dollar was the most attractive currency on Wednesday this week because of the Bank of Canada’s interest rate decision. Regardless of plenty of positive economic indicators recently, Canada’s central bank decided to keep borrowing costs on hold at 1.25% this time as officials had argued lately “some monetary policy accommodation will still be needed to keep inflation on target.” The Loonie -denominated assets of course traded lower on the news.
Wednesday also witnessed UK’s CPI y/y broadcast slipping to 2.5% versus the expected 2.7%. GBP bears came aggressively into the fray, aggravating the Pound Sterling’s bearish sentiment.

The WTI benchmark this week was boosted quite strongly thanks to traders expecting an extension of coordinated output cuts into 2019. Coupled with Crude Oil Inventories dropping to -1.1M from the prior 3.3M, Oil prices have formed a new 41-month high at 68.88 on Wednesday.

In a separate development, the New Zealand Dollar saw a decline in defiance of CPI mounting to an annualized 0.5% from the last level of 0.1%. Most of the Kiwi - denominated assets ended up the day in the red.

Thursday’s market attention was heavily on the Australian Dollar due to Australia’s Employment Change and Unemployment Rate reports. The Australian economy added 4.9K jobs this time, underperforming analysts’ estimates for an expansion of 20.3K and dampening AUD callers. While Unemployment Rate remained at 5.5%, the Aussie still found itself weakening versus major currencies.

UK’s Retail Sales m/m also came in on the same day. With the figure declining to -1.2% from 0.8%, the British Pound fell deeper into the red.
Friday brought two important releases out of Canada. CPI m/m was affirmed decreasing to 0.3% from the previous reading of 0.6%, while Core Retail Sales m/m dropped straight to the no-growth level versus the prior 1.0%. CAD bears anew dominated the market.
Bitcoin this week saw a mixed trading affair. At the time of writing, BTC/USD is trading around $8,500.

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