Most of binary traders who are playing on commodities markets have started the week to be buyer of binary “put” options on major commodities as Gold and oil prices have traded lower during Monday’s session,concerned by a higher greenback and data indicating manufacturing activity in the U.S. contracted for the first time since July 2009 in June. Gold fell some 1.3% during the session low at USD1’587.65 meanwhile oil prices dropped some 1.73% for an establishing prices at $83.48 a barrel.
As the most of the world binary markets Wednesday trading session have been very quiet during U.S holyday and binary Commodities traders were focused on monetary policy decisions from the European Central Bank and the Bank of England later on Thursday.
Some lightly buying binary call options orders have been registered during Thursday’s trading session on oil market after a U.S. government report showed oil supplies declined significantly more-than-expected last week and binary traders priced a rise of 1.5% to settle oil at USD88.97 a barrel, meanwhile binary traders who are playing on Gold market have been huge buyer of binary put options and pushed Gold prices under heavy selling pressure during U.S. trading session on Thursday, falling to the lowest levels of the day as the U.S. dollar strengthened broadly after the European Central Bank cut its benchmark interest rate to a record low.for a tumbling of 1.25% for a settlement prices at $1’601.65. The dollar index, which tracks the performance of the greenback against a basket of six other major currencies, was up 0.9% to trade at 83.00.
The information in the above analysis is collected from different sources and should serve for informative purposes only. The author shall not be held responsible for the validity of the presented information. No part of this analysis recommends the purchase or sale of a currency pair or any other financial instrument.