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By: Adam Stone
May 17th, 2016 07:45am GMT, London UK

Market Recap & Outlook:

G7 finance ministers to meet in Japan.

On Monday, Japanese Prime Minister Shinzo Abe said that a majority of G7 leaders agree on the need to deploy fiscal policies to boost slow growth and low inflation. Japan is to host a summit meeting of G7 finance ministers and central bankers later this week amid speculation that Tokyo has been trying to get support for action that will weaken the strong Yen.

The Yen was largely firmer on Monday after disappointing economic news from China shored up demand for the safe-haven currency. Chinese investment, factory output and retail sales all missed forecasts which only added to doubts over whether the economy is stabilizing or not.

The US Dollar touched a low of 108.46 yen (USD/JPY), retreating from two week highs of 109.57 set on Friday. The Euro fell as far as 122.625 yen (EUR/JPY) extending its withdrawal from last Thursday’s peak of 124.65. The Dollar was at fourteen day highs against both the British Pound and the Euro. The Euro fetched $1.1316 (EUR/USD), up from $1.1283 last Friday. The Pound traded at $1.4353 (GBP/USD).

Oil prices rose more than 1 percent after Goldman Sachs said an almost two year run of oversupply is drawing to a close as the market most likely flipped into a deficit in May following various disruptions to global supply. Goldman also raised its US crude price forecast to $50 a barrel for the second half of 2016, from $45 in March. Goldman did however warn that the market would flip back into oversupply in the first half of 2017.

US equities were higher at the close on Monday, as gains in the Oil & Gas, Basic Materials and Healthcare sectors propelled shares higher. In Commodities trading, Gold for June delivery was up 0.25 percent to $1275.85 a troy ounce.

USD/JPY: A binary Call option coincides with the trend, seen below.
USDJPY Binary Options Insights for May 17th 2016

EUR/JPY: A binary Put option coincides with the trend, seen below.
EURJPY Binary Options Insights for May 17th 2016

GBP/USD: A binary Call option coincides with the trend, seen below.
GBPUSD Binary Options Insights for May 17th 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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