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By: Adam Stone
November 5th, 2016 07:45am GMT, London UK

Market Recap & Outlook:

Friday and the week ahead.

Friday saw the Dollar move lower against the other major currencies, as uncertainty over the outcome of the US presidential election overshadowed the release of largely positive US data. The US Labor Department said the economy added 161,000 jobs in October, and Septembers figures were revised up to a 191,000 gain from the previous estimate of 156,000. The unemployment rate ticked down to 4.9 percent last month from 5.0 percent in September. Data also revealed that US average hourly earnings rose 0.4 percent in October, exceeding the expected 0.3 percent rise. In a separate report, it was shown that the US trade deficit fell to $36.44 billion in September from $40.46 billion in October. The data supports expectations for a December rate hike by the Federal reserve.

EUR/USD rose 0.13 percent to trade at 1.1119, while USD/JPY rose 0.17 percent to 103.16. Elsewhere, GBP/USD climbed 0.63 percent to a one month peak of 1.2538.

Friday November 4th also saw Oil futures fall to multi-month lows and book their largest weekly loss in almost a year amid mounting skepticism over the implementation of the planned OPEC production limitation deal. Prices fell sharply following a Reuters report, citing an OPEC source, stating that Saudi Arabia threatened to raise its oil production if Iran refused to cap its output. Shortly afterward, Bloomberg News reported that OPEC Secretary General Mohammad Barkindo denied the threat was made. On the ICE Futures Exchange in London, Brent oil for January delivery dropped to a session low of $45.08 a barrel, and was last trading at $45.58, down 77 cents/1.66 percent. For the week it logged a decline of $4.13/8.3 percent, the largest weekly loss since January.

Gold prices reversed losses to end higher on Friday, Gold for December delivery on the Comex division of the New York Mercantile Exchange was up $2.50/0.19 percent to settle at $1,305.80 a troy ounce.

EUR/USD: A binary Put option coincides with the trend, seen below.
eurusd Binary Options Insights for November 5th 2016

USD/JPY: A binary Call option coincides with the trend, seen below.
usdjpy Binary Options Insights for November 5th 2016

GBP/USD: A binary Call option coincides with the trend, seen below.
gbpusd Binary Options Insights for November 5th 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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