› Weekly Binary Options Review (May 13 - May 19)

Weekly Binary Options Review (May 13 - May 19)

In this article, we would like to present the review of the binary options market during the period from May 13 to May 19, targeting the prospects of major instruments.

The week started first on the Land of the Rising Sun, with the release of monthly PPI and Prelim Machine Tool Orders. While the PPI of April is relatively stable at 2.00% as forecasted, the total value of new orders placed with machine tool manufacturers fell sharply from March’s 28.1% to 22.0%. The JPY seemed to be affected when USD/JPY exchange rate had the whole week rising from 109.385 to 110.719, posting a rise of 1.2%.

Investors in the U.S had reasons to be worried about the retail industry indices on Tuesday. The April’s Core Retail Sales and Retail Sales were both 0.3%, which were slightly lower than anticipations of experts. However, given the rise of USD to most of the major currencies along the week, it turned out that the Greenback was still very powerful with accumulation from recent weeks’ rising. Meanwhile, the Office for National Statistics of England published the Average Earnings Index of three months, which was 0.2% lower from the forecasted 3.0%; and the Reserve Bank of Australia proclaimed their Monetary Policy Meeting Minutes with positive view on the possibility that Australia would meet the economic forecasts in the Federal Government's latest budget.

On the next day, new indices of the U.S were ready to be released. The Building Permits of April was 1.35M, posting a light fall from March’s 1.38M. In the energy sector, this week’s Crude Oil Inventories continue to print a fall at a smaller amount with the change at -1.4M. From Australia, the sign of a wage increase is still in the mist with 1st quarter’s Wage Price Index lower than forecasted at 0.5%. In the afternoon, from Zurich, SNB Chairman Jordan had a speech on the controversial Sovereign Money Initiative and the monetary policy of Switzerland in near future. The CHF/USD immediately responded with an inconsiderable recovery and the exchange rate was comparatively stable until shooting on Friday at 1.0022, yielding an increase of 0.3%.

Last Thursday was covered with the news of labor and annual budget from Oceania. In the Kangaroo land, the Employment Change was improved a lot from the forecasted level 19.8K with an increase of 2.8K. On the contrary, the Unemployment Rate showed the pessimistic side of the labor market while fell slightly to 5.6% from last month’s 5.5%. Given mixed information from the market, the Aussie – Greenback responded with a light drop on the day before returning to 1.28798, posting a climb of 0.2%. From neighboring New Zealand, the Government published the Annual Budget with intends to maintain surpluses over the coming parliamentary term. The NZD/USD experienced a week with relatively parallel happenings to the AUD/USD’s with a decline lasting in two days before the signs of a recovery showed up from Wednesday until the end of the week. It ended at 0.69148, printing a slight decrease of 0.1% from Monday’s rate.

On Friday, Canada took over the stage with the release of monthly CPI and Core Retail Sales. The CPI remained at 0.3% as forecasted, while the Core Retail Sales of April was recorded at -0.2% _ a surprisingly fall from the anticipated level of 0.5%. It should be expected that the Loonie was suffering from the news when the USD/CAD had a week shooting up overall with only a considerable decline on Wednesday. The exchange rate grew to 1.28798, marking a rise of about 0.2% from the opening of the week.

In the cryptocurrency sector, the leading Bitcoin’s bearish trend continued to extend this week. At the time of writing, BTC/USD is trading around $8,186.72.

BTC
Source: ELEVENEWS


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