› Weekly Binary Options Market Review (Jun 03 - Jun 09)

Weekly Binary Options Market Review (Jun 03 - Jun 09)

In this article, we would like to present the review of the binary options market during the period from Jun 03 to Jun 09, targeting the prospects of major instruments.
This week was full of positive indices from around the world, in which Monday came first with the Retail Sales m/m from Australia and the Construction PMI of the U.K. In contrast to the previous months’ when the actual numbers were lower than predictions, the Retail Sales of this April was considerably high at 0.4%, posting a 25% rise from the forecasted 0.3%. Besides, the Construction PMI of the U.K marked the 2nd continuous month being higher than the forecast (52.5 in compared to 52) and strongly fortified the GBP value against USD on the same day.

Tuesday brought us more news from the above two economies and also the ISM Non-Manufacturing PMI of the U.S. Early at 5:30 GMT, the Board of RBA decided to leave the cash rate unchanged at 1.50% when being confident of the economy’s strength currently due to exports and government spending. In England, the Services PMI was announced higher than forecast the first time in the last three months (54 in compared to 52.9); meanwhile, in the U.S, the USD was benefited from the high Manufacturing PMI this month (58.6, which is 1.2% higher than prediction).

Australia once again became the focal point of the world economy on Wednesday with the GDP of 2018’s first quarter released. In the same positive scenario drawn by the Retail Sales before, the GDP of Australia this quarter was 1%, printing a rise of 11% from the forecast. It was Canada then walked into the spotlight with a considerable lower-than-prediction Trade Balance at -1.9B, which stopped the deficit momentum in the last three months and post a positive view of the Canadian Exports being improved. In the U.S, the Crude Oil Inventories this week was significantly higher than prediction at 2.1M, making the oil price rise immediately on the same day. However, it seemed like the positive news on the U.S was not enough to make a change for the Greenback this week when its relative value against other major currencies was declining.

On Thursday, the Australian Bureau of Statistics published the Trade Balance of April, which is exactly the same as the previous forecast at 0.98B. In a similar situation to the US Dollar, all the positive news along the week could not help much with the value of the AUD, with the AUD/USD exchange rate dropped a little bit from Monday’s rate when closing on Friday. Back to Canada, the BOC Governor Poloz had his speech at a press conference about the Financial System Review in Ottawa. Talking about the spending trend in near future, he cited his belief that confident consumers would start paying more for many things and that would have a direct impact on inflation, spending power.

BOC Governor Poloz
Source: Maclean's

On Friday, the world’s attention was on the G7 Meetings in Quebec with many speeches and discussions on important issues like the trade tariffs and climate change. The U.S President Donald Trump stated that he was looking forward to straightening out unfair Trade Deals with the G-7 countries, and whether it did not happen, the U.S economy would come out even better. At the same time, the Statistics Canada announced the country’s Employment Change and the Unemployment Rate. While the Unemployment Rate was stable at 5.8%, the Employment Change was far below predictions (-7.5K in compared to 19.1K). The Loonie – Greenback responded with a significant fall on Friday, posting nearly no change from the closing rate on Monday.

In the cryptocurrency sector, the world’s famous one just had another week declining. At the time of writing, BTC/USD is trading around $7,634.

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