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USD/MXN 19.871 17:00 24.02
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ALIBABA 102.105 17:00 24.02
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S&P 500 2357.320 17:00 24.02
DOLLAR INDEX-MAR17 100.983 17:00 24.02
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Markets recoiled slightly yesterday after the simply mammoth day we had Wednesday. Things are likely to maintain a muted tone for the remainder of this week whereby binary options traders are going to focus more on forex pairs and a bit less on the indices. The fact is, Wednesday caught so many surprised, that Thursday sort of turn into a wash of a day. Binary options traders waited all day for some action once those new releases started to roll out, but for the most part, it was a rather quiet day of trading.

The Initial Jobless Claims report actually turned out to be very good but as stated above, markets failed to react to any news. It was all about correcting. The recent moves and that’s exactly what we saw. However, the index was worth mentioning because it does lead analysts to start thinking about the next sets of employment data. It is safe to assume that the reason the Federal Reserve decided not to begin tapering in September, as most believed, was due at least in large part to the status of the jobs market in the US. While improving greatly over the last year, the Federal Reserve clearly stated on numerous occasions that the threshold for real growth would be a consistent surpassing of 200k new jobs per month.

According to the recent NFP reports, while reaching this threshold, it has never been surpassed and this makes the Fed’s decision rather clear. Despite this pseudo clarity, binary options traders along with 99% of the rest of the universe still thought that the Fed would contract the bond buy back program. So receiving some better than expected jobs data could go a long way to improving the outlook for the US economy. We do have quite a bit of time before the next NFP report is released, but the stacking of employment data will do its job of providing the insights necessary for the Fed to likely taper by year’s end. This means that binary options traders may be wary of taking up options again today and even further down the road.

Don’t forget that the curtailing of QE3 was considered “priced in “ leading to the Fed’s decision. So as we near the next one, things will likely look rather similar. Nothing like the power of history to assist our decision making.

For the day ahead, binary options traders will likely retain focus on the forex markets as they are the only ones showing any reason to move in any motivated manner. The USD is still at 5 week lows and the USD might show some ability to extend losses rather than recoup as could be expected. Look for the EUR/USD to maintain strength above 1.35. Don’t expect any news events to cause any moves in the market as it’s expected to be quiet on all fronts. No news and no events will keep traders of all types to focus on technical charts.

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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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