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GBP/USD 1.24430 17:20 22.02
EUR/USD 1.05615 17:20 22.02
OIL-APR17 (BRENT) 55.815 17:15 22.02
ALIBABA 104.870 17:15 22.02
AUD/USD 0.76832 17:15 22.02
AUD/JPY 87.185 17:15 22.02
SILVER 17.963 17:15 22.02
GOLD/EUR 1167.045 17:15 22.02
OIL-MAR17(WTI CRUDE) 53.980 17:15 22.02
GOLD 1232.476 17:15 22.02
EUR/JPY 119.846 17:15 22.02
USD/JPY 113.478 17:15 22.02
GBP/USD 1.24423 17:10 22.02
EUR/USD 1.05583 17:10 22.02
BitCoin/CNY 7487.500 17:00 22.02
USD/MXN 19.919 17:00 22.02
WELLS FARGO 58.325 17:00 22.02
USD/CHF 1.01100 17:00 22.02
OIL-APR17 (BRENT) 55.725 17:00 22.02
TOYOTA (US) 114.275 17:00 22.02
SONY 31.285 17:00 22.02
COLGATE-PALMOLIVE 73.035 17:00 22.02
FIAT CHRYSLER 11.35 17:00 22.02
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By: Adam Stone
October 26th, 2016 07:45am GMT, London UK

Market Recap & Outlook:

Oil prices under continued pressure as hopes of OPEC freeze deal fade.

Tuesday saw the Dollar hit highs not seen in several months against the other major currencies, as expectations of an impending rate hike by the Federal Reserve underpinned demand. The US dollar index, which measures the dollar’s strength against a trade weighted basket of six major currencies, was close to a nine month high at 98.69. The index has rallied close to 3.5 percent this month alone as hawkish remarks by Federal Reserve officials in recent weeks have solidified expectations for a rate hike before 2017.

Expectations for higher interest rates generally boost the dollar by making the currency more attractive to yield seeking investors. Sterling recovered ground after Bank of England Governor Mark Carney said the bank has to weigh the recent increase in inflation against supporting the economy with low interest rates. Carney made the remarks while testifying about the economic consequences of the Brexit vote before the Economic Affairs Committee in the British House of Lords.

USD/JPY reached a high of 104.88, the most since April 29, and was last trading at 104.43, up 0.25 percent for the day. The Euro fell to a seven month low, with EUR/USD trading at 1.0851. GBP/USD fell as low as 1.2083, before recovering to trade at 1.2155.

Oil prices were under pressure on Tuesday October 25th, reversing early gains as expectations for a coordinated production cut among major global oil producers faded and a stronger Dollar weighed. On Monday, Iraq, the second largest oil producer after Saudi Arabia, stated it wants to remain exempt from any output freeze deal. According to its own reporting Iraq pumped 4.78 million barrels last month. OPEC says it will not finalize details on individual output quotas until its next official meeting in Vienna on November 30.

Brent oil for December delivery on the ICE Futures Exchange in London fell 39 cents/0.76 percent to trade at $51.07 a barrel.
Crude oil for December delivery on the New York Mercantile Exchange also fell 30 cents/0.59 percent to trade at $50.2 a barrel.

Gold for December delivery advanced $7.55/0.61 percent to trade at $1,271.35 a troy ounce, while Silver futures for December delivery rose 16.3 cents/0.93 percent to trade at $17.76 a troy ounce.

USD/JPY: A binary Put option coincides with the trend, seen below.
usdjpy Binary Options Insights for October 26th 2016

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

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