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By: Adam Stone
August 15th, 2016 07:45am GMT, London UK

Market Recap & Outlook:

Friday in Review and the week ahead.

Friday August 12th saw the US Dollar fall against the other major currencies, reaching a more than one week low as unexpectedly weak US consumer spending and inflation data led investors to rethink their expectations regarding the timing of the Federal Reserve rate hikes. US retail sales were flat in July according to the Commerce Department, with disappointing forecasts for an at best 0.4 percent rise from growth of 0.8 percent the previous month. Other data released on Friday included business inventories, which rose more than expected in June, and consumer sentiment for August which came in below expectation.

Against the Yen, the Dollar fell to a low of 100.85 before trimming losses to end at 101.27 by late trade, down almost 0.7 percent. For the week, the pair lost 0.5 percent, the third consecutive weekly decline (USD/JPY).

The Euro reached a more than one week peak of 1.1221 against the Dollar before ending at 1.1161, up 0.2 percent on the day and 0.7 percent higher for the week (EUR/USD).

The Pound meanwhile, continued to weaken, falling to as low as 1.2904 against the Dollar. Speculation concerning whether policy makers in the UK will be forced to add to recent stimulus measures in a bid to strengthen the economy from a down turn following the Brexit vote, resulted in the GBP/USD currency pair ending at 1.2914, down 0.3 percent for the day and 1.15 percent lower for the week.

Oil futures soared for the second day running on Friday, ending at a three week high as investors continued to cover short positions after Saudi Arabia’s Oil Minister hinted the Kingdom may be open to discussions next month, aimed at stabilizing the market. On the New York Mercantile Exchange, crude oil for delivery in September rose to an intra day peak of $44.78 a barrel, the most since July 22. It closed the day at $44.49, up $1.00/2.3 percent.

Gold for December delivery on the Comex division of the New York Mercantile Exchange jumped to a daily peak of $1,362.50 a troy ounce, before turning lower to settle at $1,343.20 by close of trade, down $6.80/0.5 percent.

USD/JPY: A binary Put option coincides with the trend, seen below.
USDJPY Binary Options Insights for August 15th 2016

EUR/USD: A binary Put option coincides with the trend, seen below.
EURUSD Binary Options Insights for August 15th 2016

GBP/USD: A binary Put option coincides with the trend, seen below.
GBPUSD Binary Options Insights for August 15th 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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