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By: Adam Stone
May 6th, 2016 07:45am GMT, London UK

Market Recap & Outlook:

Canadian wildfires disrupt oil production while Japan issues warning to Britain.

The Dollar extended its three day rally largely on the back of optimism the US economy will bounce back after almost stalling in the first quarter.
The dollar index continued to gain strength, trading at 93.54, firming after dropping below 92.00 earlier in the week, the lowest since January 2015. The dollar rose to 107.40 yen above the recent 18 month trough of 105.55. US stock futures pointed to a higher open on Thursday as traders looked ahead to the release of weekly initial jobless claims data and speeches from the Federal Reserve. The euro fell to 1.1433 down considerably from the 1.1615 level seen earlier in the week.

Shares in Asia closed mixed after a reading on China’s economy showing growth in the service sector decreased last month.

European stock markets rose for the first time in five sessions taking cues from a rally in oil prices. Oil prices recovered more than 3 percent on Thursday as wildfires in Canada caused serious disruption to its oil sands production. The fires in Alberta Canada forced the evacuation of nearly ninety thousand people. Some oil pipelines were shut as a precautionary measure and while output at several facilities has been disrupted, the volume of the decline has yet to be clarified. US crude was up $1.38 to $45.16 a barrel , while Brent jumped $1.16 to $45.76.

Japanese Prime Minister Shinzo Abe issued a caution to Britain on Thursday that a vote to leave the European Union in the June referendum would make Britain a less attractive option for Japanese investors. His intervention comes less than two weeks after US President Barak Obama warned Britain that it would be “in the back of the queue” for a trade deal with the US if it did indeed drop out of the EU. Approximately 1,000 Japanese companies currently operate in the UK employing 140,000 people.
During a visit to London, Abe told reporters “Japan very clearly would prefer Britain to remain within the EU, many Japanese companies set up their operations in the UK precisely because the UK is a gateway to the EU”. A British exit would raise questions about the 21st Century fate of Britain’s $2.9 trillion economy, unleash volatility in foreign currency, stock and bond markets and also undermine post-World War Two efforts toward integration.

USD/JPY: A binary Call option coincides with the trend, seen below.
USDJPY Binary Options Insights for May 6th 2016

EUR/USD: A binary Put option coincides with the trend, seen below.
EURUSD Binary Options Insights for May 6th 2016

EUR/GBP: A binary Put option coincides with the trend, seen below.
EURGBP Binary Options Insights for May 6th 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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