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By: Adam Stone
September 21st, 2016 07:45am GMT, London UK

Market Recap & Outlook:

Tuesday sees mostly quiet trade ahead of FED and BoJ policy statements.

Tuesday saw the Dollar hold steady against the other major currencies in quiet trade, following the release of downbeat US housing sector data and investors remaining cautious ahead of the Federal Reserve and Bank of Japan policy statements due on Wednesday. The US Commerce Department said housing starts fell 5.8 percent to 1.142 million units last month from July’s total of 1.212 million units. Analysts had expected a decline of 1.7 percent in August. The number of building permits issued also declined 0.4 percent to 1.139 million units from 1.144 million. Economists had forecast a 2.5 percent rise to 1.170 million units in August.

EUR/USD held steady at 1.1180, while GBP/USD fell 0.51 percent to 1.2963, the lowest since August 16. USD/JPY fell 0.29 percent to trade at 101.63.

A possible deal by the world’s leading producer countries to support oil prices may last for one year, according to the secretary-general of OPEC, on Tuesday September 20th. OPEC and non member producers including Russia are currently discussing a deal to stabilize the market by at least freezing output, key details such as timing have yet to emerge.

Oil prices extended overnight losses in North American trade on Tuesday, falling to the lowest level in almost six weeks as market players shifted their focus to weekly data from the US regarding crude stockpiles. Official data from the Energy Information Administration is due for release on Wednesday. Analysts expect an increase of 2.3 million barrels in crude stocks.

Gasoline inventories are expected to fall by 1.5 million barrels, while distillates, including heating oil and diesel are forecast to decline by 1.4 million barrels. Crude oil for November delivery on the New York Mercantile Exchange fell to a daily low of $43.12 a barrel, and was last at $43.23, down 63 cents/1.44 percent. Brent oil for November delivery dropped 75 cents/1.63 percent to trade at $45.22 a barrel.

Gold prices held steady on Tuesday, with investors waiting for the Fed and BoJ policy decisions to be released. Gold for December delivery on the Comex division of the New York Mercantile Exchange dropped 65 cents/0.05 percent to trade at $1,317.75 a troy ounce.

EUR/USD: A binary Put option coincides with the trend, seen below.
eurusd Binary Options Insights for September 21st 2016

GBP/USD: A binary Put option coincides with the trend, seen below.
gbpusd Binary Options Insights for September 21st 2016

USD/JPY: A binary Put option coincides with the trend, seen below.
usdjpy Binary Options Insights for September 21st 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.
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