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By: Adam Stone
December 02nd , 2016 07:45am GMT, London UK

Oil prices rise 4 percent following the OPEC output agreement.

Thursday saw the Dollar trim losses against the other major currencies , following the release of positive US manufacturing activity data which offset a disappointing US jobless claims report. The Dollar had strengthened broadly on Wednesday after OPEC finally came to an agreement on an oil output cut aimed at curbing the global oversupply . The expectation for higher oil prices added to US inflation hopes , which have already been boosted by the prospect of increased fiscal spending under the Trump administration.
Elsewhere , British Brexit Minister David Davis indicated that London would consider Paying for access to European markets after Britain leaves the EU . Following this statement , GBP/USD rose 0.78 percent to trade at 1.2604. EUR/USD was practically unchanged at 1.0589 , while USD/JPY rose 0.17 percent to trade at 114.62.

Oil prices rose 4 percent on Thursday ,extending gains after Russia and OPEC agreed to restrict output .
Brent futures settled $2.10 / 4.1 percent higher at $53.94 , while US crude ended the session at $51.06 , up $1.62 / 3.3 percent on the day.

Gold prices fell on Thursday as strong US economic data improved the chance the Federal Reserve will adopt a more aggressive approach to monetary policy in December . Gold futures for February closed down approximately 0.4 percent at $1169.40 a troy ounce on the New York Mercantile Exchange .

GBP/USD : A binary Call option coincides with the trend , seen below .
GBP/USD 02/12/16

EUR/USD :  A binary Call option coincides with the trend , seen below .

EUR/USD 02/12/16

USD/JPY : A binary Put option coincides with the trend , seen below .
USD/JPY 02/12/16

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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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