Oil has dropped below the level of 45 USD for the first time since the beginning of the year, as analysts say the oil glut would bring prices even further down. Analysts around the globe warnеd this week that oil prices would continue to fall, reaching record low levels.
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European stock markets headed for their biggest jump in the past two months as market cheered Macron's victory in France and Britain launched BREXIT talks. Goldman Sachs warned a good number of leading IT companies may be overvalued, which caused an initial hit on EU stocks last week before they bounced back, now heading for a jump.
The U.S. dollar marked a solid decline on Tuesday, ahead of James Comey's testimony. Meanwhile the RBA decided once again to keep record-low interest rate unchanged.
Political tension in the Gulf region has made oil once again rise above 50 USD, following a drop last week. Oil futures were under sales pressure at the end of the past week, falling below the level of 50 USD on Friday after the decision of Donald Trump to withdraw the United States from the Paris climate change deal was announced.
European indices have marked a slight rise supported by rising oil company stocks after a short-lived surge in oil prices.
Traders and analysts witnessed the pound drop early on Wednesday as political instability can be expected before the start of Brexit talks.
The EU says it is quite ready to launch Brexit negotiations in June so that the UK leaves the bloc successfully in 2019.
The U.S. dollar and indices experienced a shock wave during the week, caused by recent scandals related to the policies of President Donald Trump.
South Korea's tech giant Samsung Electronics has announced a record number of pre-orders for its new Galaxy S8 and Galaxy S8+ smartphones. The launch of the new device is expected to be very successful after the spectacular failure of the Galaxy Note 7 phone last year with its exploding battery. Previous failures have not stopped Samsung stocks from rising, nor prevented the successful launch of Galaxy S8.
Traders saw the pound take a huge plunge before bouncing back as Theresa May announced snap elections in the UK.
Pound continues to have strong positions against the euro but traders and analysts expect to find clues in the inflation report that is to be published on Tuesday.
Traders and analysts focus their attention on the difficult two-day meeting between Donald Trump and his Chinese counterpart Xi Jinping.
Japanese tech giant Toshiba sells its profitable NAND memory plant, which attracts some serious interest.
Traders have seen the British pound keeping its stability at the backdrop of fears that Brexit would cause the currency to drop. In the long run, however, analysts expect that Brexit would make the pound weaken and the process will cause much volatility.
As Canada made a step towards cannabis legalization, stocks of marijuana companies rose.
Traders saw the U.S. dollar fall on Monday amid increasing worries that Trump may not keep tax reform promises.
At the backdrop of solid growth in European business activity, it became clear that some Eurozone banks may need to close.
Inflation in the UK has been on the rise , while traders saw the U.S. dollar mark a decline.
Rising producer prices show inflation pressure has also been rising in Europe's leading economy. Year-on-year growth in German producer prices accelerated to a level of 3.1 percent, statistics by Destatis showed.
Traders focus on the two-day Federal Reserve meeting ending Wednesday, waiting for clues about the timing of possible future interest rates hikes.