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By: Adam Stone
August 16th, 2016 07:45am GMT, London UK

Market Recap & Outlook:

US crude rises as Russia hints at Discussions in near future.

Monday saw the Dollar fall lower against the other major currencies, following the release of downbeat US manufacturing activity data and Friday’s disappointing US economic reports which continued to weigh on the Dollar.

EUR/USD gained 0.30 percent to 1.1193, while GBP/USD fell 0.29 percent to a new one month low of 1.2877. USD/JPY also dropped 0.12 percent to hit 101.15.

US crude futures rose to new three week highs after the Russian Energy Minister hinted that Russia may be open to holding discussions with major producers from the middle east in the coming weeks. OPEC is currently considering whether to freeze output in an effort to stabilize persistently low oil prices. The Russian Minister’s comments come just days after the Saudi Energy Minister sparked a rally last week by suggesting that OPEC producers may meet on the sidelines of next months International Energy Forum.

On the Intercontinental Exchange, Brent crude for October delivery wavered between $46.84 and $48.39 a barrel, before settling at $48.33, up 1.36/2.90 percent on the day. Brent futures cleared $48 for the first time since July 15. Both the US and International benchmarks of crude are coming off their strongest week since the spring, soaring close to 5 percent last week.

Gold rose slightly on Monday in quiet, range bound trade as US equities jumped to new record highs aided by a continued rally in crude futures and a relatively week dollar. Since rising to fresh 28 month highs in July, Gold has fallen back approximately $30 an ounce. The Precious metal has soared more than 25 percent over the first seven months of this year and is still on pace for one of its strongest years in the last three decades. Gold for December delivery traded between $1,341.00 and $1,349.05 an ounce on Monday August 15th, before settling at $1,347.75, up 4.55/0.34 percent on the session.

EUR/USD: A binary Call option coincides with the trend, seen below.
EURUSD Binary Options Insights for August 16th 2016

GBP/USD: A binary Call option coincides with the trend, seen below.
GBPUSD Binary Options Insights for August 16th 2016

USD/JPY: A binary Put option coincides with the trend, seen below.
USDJPY Binary Options Insights for August 16th 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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