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By: Adam Stone
July 11th, 2016 07:45am GMT, London UK

Market Recap & Outlook:

Sterling posts rare win on Friday, Gold prices decline.

Friday saw the GBP/USD currency pair post modest gains in a rare winning session as the Dollar wavered throughout a choppy day of trading, caused in part by reports released showing that the US labor market added the highest number of jobs this June in almost ten months. The currency pair wavered between 1.2881 and 1.2952, up 0.0046 on the session. With these slight gains, the British Pound recorded its fourth winning session since the UK voted to leave the EU.

USD/JPY slipped down 0.12 percent to 100.67, while EUR/USD dropped 0.16 percent to 1.1046.

Friday also saw Gold prices decline, following the release of the US jobs data, but losses were limited as feeble wage growth suggested the Federal Reserve will most likely not raise interest rates in the near future. For the week, Gold futures added on $14.40, the sixth straight weekly gain. At the close on Friday, the metal stood at $1,358.40 , down $3.70. Prices for Gold are up almost 30 percent so far this year.

Crude prices inched up in trade on Friday but Brent notched its largest weekly drop in almost six months. The oil market initially rose by about 1 percent after the US economy posted its aforementioned jobs figures and on worries regarding fresh militant attacks on Nigerian oil infrastructure. Oversupply concerns quickly resurfaced with data showing the US oil rig count rose by ten this week as drillers added rigs for a fifth week in six, analysts now predict the near two year slump in drilling has bottomed and production will start to edge up next year.

Brent crude futures ended the session up 36 cents at $46.76 per barrel.

GBP/USD: A binary Put option coincides with the trend, seen below.
GBPUSD Binary Options Insights for July 11th 2016

USD/JPY: A binary Put option coincides with the trend, seen below.
USDJPY Binary Options Insights for July 11th 2016

EUR/USD: A binary Put option coincides with the trend, seen below.
EURUSD Binary Options Insights for July 11th 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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