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By: Adam Stone
August 26th, 2016 07:45am GMT, London UK

Market Recap & Outlook:

Oil prices lower for second straight session, Gold falls to four week lows on prospect of US rate increases.

Thursday August 25th saw the Dollar relatively unchanged against the other major currencies following the release of upbeat US data, as investors remained fixated on the outcome of Fed chair Janet Yellens speech this Friday. The Commerce Department said durable goods orders rose by 4.4 percent last month, compared to expectations for an advance of 3.3 percent. The US Department of Labor said the number of individuals filing for initial jobless benefits in the week ending August 20 decreased by 1,000 to a five week low of 261,000 from the previous week’s total of 262,000. Analysts had expected claims to rise by 3,000 last week.

GBP/USD slipped 0.23 percent to 1.3202, while EUR/USD rose 0.20 percent to 1.1287. USD /JPY held steady at 100.48.

Gold prices fell to a fresh four week low on Thursday, adding to losses following the release of US economic reports data which increased the chances of an interest rate increase in the coming months. The Metal is sensitive to moves in US rates, which lift the opportunity cost of holding non yielding assets such as bullion, while boosting the Dollar in which it is priced. Gold for December delivery on the New York Mercantile Exchange fell to an intra day low of $1,321.05 a troy ounce , a level not seen since July 7.
Gold was last at $1,323.25, down $6.45/0.49 percent.

Oil prices were lower for the second session in a row on Thursday as markets remained focused on a global supply glut and the fading hope that major oil producers will reach an agreement to freeze oil output. Crude prices soared by nearly $10 a barrel in the early part of August, as the prospect of an output freeze by major producers at an informal OPEC meeting due next month ignited a massive rally. Futures are down almost 4 percent this week however, as analysts and traders remain skeptical whether the meeting will result in any actual effort to reduce the global glut. Crude oil for October delivery on the New York Mercantile Exchange shed 17 cents/0.36 percent to trade at $46.60 a barrel, after touching a daily low of $46.42 earlier in the day, a level not seen since August 17.

GBP/USD: A binary Call option coincides with the trend, seen below.
GBPUSD Binary Options Insights for August 26th 2016

EUR/USD: A binary Call option coincides with the trend, seen below.
EURUSD Binary Options Insights for August 26th 2016

USD/JPY: A binary Call option coincides with the trend, seen below.
USDJPY Binary Options Insights for August 26th 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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