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By: Adam Stone
May 2nd, 2016 07:45am GMT, London UK

Market Recap & Outlook:

Friday saw the Dollar fall to eight month lows against its major peers as the Yen continued to build on strong gains made earlier in the week in the wake of Central Bank meetings in Japan and the US. The US dollar index, which measures the USD’s strength against a trade weighted basket of six major currencies, was down 0.76 percent at 93.02 late on Friday, its weakest level since August 2015. The Dollar weakened across the board after the Federal Reserve kept interest rates on hold last Wednesday and indicated that future interest rate hikes will most likely be data dependent.

USD/JPY fell 1.54 percent to 106.45 on Friday, the weakest reached since October 2014. The currency pair ended the week down 4.49 percent the worst weekly performance since the global financial crisis of 2008. The Yen was also higher against the Euro, with EUR/JPY down 0.73 percent at 121.94 on Friday. The pair ended the previous session down 2.73 percent. The Euro rose to nearly three week highs against the Dollar, with EUR/USD advancing 0.9 percent to 1.1453. Sterling Touched twelve week highs against the Dollar, with GBP/USD hitting 104670, the strongest since February and was at 1.4602 at the last, ending the week with gains of 1.09 percent.

Gold prices soared to a fifteen month high on Friday as a largely weaker US dollar and the Federal Reserve’s unwillingness to raise interest rates boosted the Metal. Dollar weakness generally benefits Gold, as it boosts the metal’s appeal as an alternative asset and makes dollar priced commodities cheaper for holders of other currencies.

USD/JPY: A binary Put option coincides with the trend, seen below.
USDJPY Binary Options Insights for May 2nd 2016

EUR/JPY: A binary Put option coincides with the trend, seen below.
EURJPY Binary Options Insights for May 2nd 2016

EUR/USD: A binary Call option coincides with the trend, seen below.
EURUSD Binary Options Insights for May 2nd 2016

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Adam Stone
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Adam Stone

As COO of GOptions, my first and foremost goal is to provide traders with the most up to date info from the markets. I have been trading the markets since 2004 and have been involved with stocks, binary options, and forex trading since then. I have had no formal market education and pride myself on a self taught approach to everything related to trading. I try to focus though on both the technical and fundamental aspects related to each trading day and bring forward the most important aspects of risk/reward in the market.
Adam Stone
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