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AUD/USD 0.75845 21:00 24.01
AUD/JPY 86.280 21:00 24.01
GBP/JPY 142.263 21:00 24.01
GENERAL ELECTRIC 29.990 21:00 24.01
S&P 500 2280.120 21:00 24.01
JP MORGAN CHASE 84.715 21:00 24.01
GOLD/EUR 1127.335 21:00 24.01
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CITIGROUP VS JP MORGAN CHASE 0.67015 21:00 24.01
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By: Adam Stone
May 19th, 2016 07:45am GMT, London UK

Market Recap & Outlook:

Japan avoids recession, US Federal Reserve say rates hikes to continue.

Wednesday saw the British Pound lower against a broadly stronger Dollar, the Pound shrugged off a solid UK jobs report as investors reassessed prospects that the Federal Reserve would soon raise interest rates. The office for National statistics reported that the claimant count – which measures the number of people receiving unemployment benefits – fell by 2,400 in April, against expectations for an increase of 4,300.

GBP/USD was down 0.8 percent at 1.14406 from 1.4435 ahead of the Job report. Sterling was changed little against the Euro, with EUR/GBP at 0.7821.

Demand for the Dollar continued to be underpinned after data showing that US consumer prices rose at the fastest rate in over three years this April, strengthening expectations for further interest rate hikes later this year. Prices rose by 0.4 percent in April, the largest one month gain since February 2013 according to the Labor Department. Separate reports showed that housing starts and industrial production also rose strongly last month. The USD received an additional boost and rose sharply against a basket of currencies after Federal reserve officials said rates could raise two to three times this year.

Japan surprised markets with a 1.7 percent annual expansion in first quarter gross domestic product ( 0.4 percent quarter on quarter ) soaring past expectations for growth of 0.2 percent and allowing the worlds third largest economy to avoid recession. Markets turned their gaze to whether Prime Minister Shinzo Abe will forge ahead with his plan to increase the sales tax to 10 percent from 8 percent.

The Nikkei reported that Abe had already decided to postpone the hike and would announce his decision after the G7 meeting, due to take place this coming weekend.

Oil prices traded flat on Wednesday May 18 staying close to near seven month highs while awaiting weekly data on crude stockpiles. After markets closed on Tuesday, the American Petroleum Institute said that US oil inventories fell by a less than expected 1.2 million barrels in the week ended May 13. The US Energy Information Administration is due to release its weekly report on oil supplies amid expectations for a drop of 2.9 million barrels. US crude oil futures slipped 0.04 percent to $48.30, while Brent oil dropped 0.10 percent to $49.22.

GBP/USD: A binary Call option coincides with the trend, seen below.
GBPUSD   Binary Options Insights for May 19th 2016

EUR/GBP: A binary Put option coincides with the trend, seen below.
EURGBP  Binary Options Insights for May 19th 2016

USD/JPY: A binary Put option coincides with the trend, seen below.
USDJPY Binary Options Insights for May 19th 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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