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September 1st 2014 – Weekly Options Currency News


After seven weeks of depreciation, the EUR/USD pair continued to fall last week to 1.3120. The main movement occurred on Friday when the pair reacted to positive U.S. data and a declining situation in Russia. After the E.U. threatened Russia with additional sanctions, the value of the Euro immediately declined. The pair has also fallen under pressure with speculation that the European Central Bank will increase monetary stimulus to prevent economic stagnation. The ECB meeting on Thursday will provide more information on the future of the Euro. Additionally, with U.S. labor data released this week, traders expect to see the U.S. dollar in a state of volatility. The Nonfarm Payroll data will be watched far and wide as the Fed may increase the interest rates once the labor data is solid.

Last week the GBP/USD pair moved sideways between 1.6535 and 1.6615. The pair stopped the previously bearish movement that had pushed them to a five month low. The value of the British Pound slightly increased as the inflation data and economic confidence showed results that exceeded expectations. This week, traders should pay attention to the U.K. Manufacturing PMI (Monday), Construction PMI (Tuesday), Services PMI (Wednesday) and interest rate release (Thursday). The U.S. dollar will be influenced by upcoming Nonfarm Payroll data which will be released on Friday.

The price of gold started last week at $1,290/ounce and by Thursday had increased to $1,297/ounce. The price of the safe-haven asset increased as fighting in Ukraine renewed. Germany and France threatened Russia by increasing sanctions. On Saturday, the EU leaders agreed to increase the sanctions, which should be implemented within a week. This week, traders should pay close attention to the situation in Ukraine as well as the economic data from the U.S. It is known that the Nonfarm Payroll data is scheduled for this Friday. This data tends to bring a lot of volatility to gold, and therefore offers great opportunities for binary options trades.

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