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By: Adam Stone
November 9th, 2016 07:45am GMT, London UK

Market Recap & Outlook:

The US Dollar holds steady ahead of the US Presidential election results.

Tuesday saw the dollar hold steady against the other majors currencies, as markets prepared for the results of the U.S. presidential election between Donald Trump and Hillary Clinton.
The Japanese Financial Minister Taro Aso stated on Tuesday that Tokyo will have to respond to any moves in the currency markets if the US election results cause a sudden spike in the Yen. Also made the comment when asked about market speculation that the safe haven currency may spike should Republican nominee Donald Trump win the presidency. Clinton is seen by investors as offering greater stability and certainty.

Elsewhere, the UK Office for National Statistics reported on Tuesday that manufacturing production increased by 0.6 percent in September, better than the expected rise of 0.4 percent. Industrial production fell by 0.4 percent in September however, compared to the forecast 0.1 percent rise.

GBP/USD held steady at 1.2390, while EUR/USD rose 0.11 percent to 1.1051. USD/JPY rose 0.25 percent to trade at 104.73.

Oil prices eased on Tuesday, paring earlier gains as voting in the US presidential election got under way, in line with a retreat in US stock index futures and a pickup in the Dollar. Brent oil futures for January were down 37 cents at $45.78 a barrel, off the session peak of $46.69. Crude oil for December delivery on the New York Mercantile Exchange fell 27 cents/0.6 percent to trade at $44.62 a barrel. Market players now look ahead to Wednesday’s weekly data from the US on stockpiles of crude and refined product.

Gold prices were steady on Tuesday, as investors await the results of the US election. Prices of the metal sank to a one week low on Monday as demand for the safe haven asset receded when the FBI stated that no charges were warranted in the case of Hillary Clinton’s email use.

Gold for December delivery on the Comex division of the New York Mercantile Exchange rose by 85 cents/0.07 percent, to $1,280.20 a troy ounce. Also on the Comex, Silver futures for December delivery rose by 6.1 cents/0.34 percent to trade at $18.21 a troy ounce.

GBP/USD: A binary Put option coincides with the trend, seen below.
gbpusd Binary Options Insights for November 9th 2016

EUR/USD: A binary Put option coincides with the trend, seen below.
eurusd Binary Options Insights for November 9th 2016

USD/JPY: A binary Call option coincides with the trend, seen below.
usdjpy Binary Options Insights for November 9th 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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