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By: Adam Stone
November 4th, 2016 07:45am GMT, London UK

Market Recap & Outlook:

Oil prices stabilize ahead of Friday’s Employment rate and NFP reports.

Thursday saw the Dollar slightly lower against the other major currencies, remaining close to a three week low as uncertainty over the outcome of the US presidential elections continued to weigh, while markets now turn their attention to Friday’s upcoming employment rate and non farm payrolls reports. The Institute of Supply Management said earlier on Thursday that its non manufacturing purchasing manager’s index dropped to 57.1 last month, analysts had expected a drop to 56.0. The report came shortly after the US Department of Labor said the number of individuals filing for initial jobless benefits in the week ending October 29 increased by 7,000 to 265,000 from the previous week’s total of 258,000. It had been expected that jobless claims would remain steady at 258,000 last week.

Elsewhere, the British Pound Sterling found support after the Bank of England voted to leave interest rates on hold, at the current record low of 0.25 percent.

GBP/USD rose 0.99 percent to trade at 1.2428, EUR/USD eased 0.09 percent to 1.1088, while USD/JPY fell 0.13 percent to 103.25.

Oil prices stabilized on Thursday November 3rd, after falling almost 3 percent to a five week low in the previous session following the release of data showing crude supplies in the US rose by the most since records began, last week. Crude oil for December delivery on the New York Mercantile Exchange rose by 6 cents/0.13 percent, to $45.40 a barrel, after falling $1.33/2.85 percent a day earlier.

Brent oil for January delivery on the ICE Futures Exchange in London added 23 cents/0.49 percent, to $47.09 a barrel.

Gold prices dropped back below the $1300 level on Thursday, pulling back from the prior session’s one month high as both the US Dollar and global stocks stabilized. Gold for December delivery on the Comex division of the New York Mercantile Exchange was down $14.85/1.14 percent, to trade at $1,293.35 a troy ounce.

GBP/USD: A binary Call option coincides with the trend, seen below.
gbpusd Binary Options Insights for November 4th 2016

EUR/USD: A binary Put option coincides with the trend, seen below.
eurusd Binary Options Insights for November 4th 2016

USD/JPY: A binary Call option coincides with the trend, seen below.
usdjpy Binary Options Insights for November 4th 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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