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By: Adam Stone
October 25th, 2016 07:45am GMT, London UK

Market Recap & Outlook:

Oil prices fall as Iraq expresses intention to remain exempt from OPEC production freeze.

Monday saw the Dollar remain close to eight month highs against the other major currencies, as expectations for a US rate hike before the end of the year continued to boost demand for the US currency. The Dollar remained broadly supported after the New York Fed President said last week that the US central bank will most likely raise interest rates later this year if the economy maintains its current path. On Friday, the San Francisco Fed President said that “this year would be good” for a rate rise that he had wanted to take effect last month. Growing Expectation
of a Clinton Presidency has also added to the view that a December rate hike is likely.

EUR/USD remained steady at 1.0883, while GBP/USD fell 0.20 percent to 1.2207. USD/JPY rose 0.43 percent to trade at 104.24.

Oil prices fell on Monday after Iraq stated it wishes to remain exempt from OPEC’s production cut deal, losses were capped though, as Iran went on to say it would encourage other members to join the proposed output freeze. The head of Iraq’s state oil marketer SOMO added that Iraq’s market share had been compromised by the wars fought since the ’80’s, “We should be producing 9 million barrels per day if it wasnt for the wars”. OPEC announced plans last month to reduce its output and will iron out the finer details at its next meeting in Vienna in November.
Brent crude futures were trading down 18 percent at $51.60 a barrel.

Gold prices were little changed on Monday, despite a stronger US dollar continuing to weigh on the metal. On the Comex division of the New York Mercantile Exchange, Gold futures for December delivery traded at $1,267.25, while Silver futures for December delivery rose 0.77 percent to trade at $17.627 a troy ounce.

EUR/USD: A binary Put option coincides with the trend, seen below.
eurusd Binary Options Insights for October 25th 2016

GBP/USD: A binary Put option coincides with the trend, seen below.
gbpusd Binary Options Insights for October 25th 2016

USD/JPY: A binary Call option coincides with the trend, seen below.
usdjpy Binary Options Insights for October 25th 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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