Today's binary options trading is EURUSD, the currency pair was a bit volatile this week. The euro surged on the back of the FOMC's decision to hike rate. On Thursday, the ECB meeting saw no monetary policy changes. The EURUSD fell below the support level of 1.1816 yesterday. We expect that price action will re-test this level on an intraday basis.
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The Bank of England will be holding its final monetary policy meeting of the year. According to the economists polled, interest rates in the UK are expected to remain steady at 0.50% this month. This comes amid the central bank rate hike in November which saw the BoE officials voting to hike rates by 25 basis points.
The much anticipated and the final FOMC meeting for the year will be held today. The FOMC will conclude its two day monetary policy meeting by releasing the FOMC statement at 19:00 GMT. This will also include the Fed's staff economic projections as well as an interest rate hike.
In the event that today's inflation continues to surge, the BoE will be in a dilemma which is likely to see the central bank announce further hawkish guidance. Last week, the Brexit negotiations managed a breakthrough as officials on both sides agreed to the Brexit bill. The next main hurdle is the UK's border with Ireland which has been a sticking point for the talks.
Today's binary options signal is EURGBP, the currency pair has been volatile over the past few weeks. Investors bought the British pound on hopes that the Brexit deal would be closed. However, the sell off was also equally fast as the deal fell apart. As a result, the volatility in the currency pair is expected to continue.
Today we trade USDJPY, the currency pair remains broadly trading flat. However, we expect that with today's payrolls data this could potentially change. Earlier this week, the private payrolls firm ADP showed that private sector hiring increased more than expected. This could see the official payrolls numbers are potentially beating forecasts.
Today's binary options signal is EURJPY, the currency pair has been posting a strong consolidation with declines coming over the past few days. However, we expect to see some correction in the short term. Draghi speech comes about a week ahead of the ECB's next monetary policy meeting and the last meeting for this year.
The central bank is expected to raise interest rates next week which means that the bar for holding back the rate hike is very high. Unless the jobs report thoroughly disappoints, which would be very surprising given the strong economic indicators, the Fed's rate hike looks to be a done deal.
Today's binary options signal is GBPJPY, the British pound has been seen attempting to post gains against the yen. However, the Brexit talks in the background continue to keep the currency pair volatile. As a key price level, GBPJPY is expected to retest 151.77 where resistance can be established. Following the retest, we expect GBPJPY to close lower on the day.
Today's forex binary signal is GBPJPY, the British pound continues to remain volatile reacting to both economic news and the Brexit developments. Technically, GBPJPY looks a bit overstretched and the Japanese yen could be looking to make a pull back.
The U.S. Institute of Supply Management will be releasing the monthly manufacturing sector activity. The data is expected to be released at 15:00 GMT today. According to the economists, manufacturing activity as measured by the ISM's index is expected to dip modestly to 58.4 for the month of November.
Today's binary options signal is EURUSD, the currency pair will be influenced by both the U.S. and the Eurozone inflation data today. Price action was trading weaker earlier this week but yesterday's candlestick pattern shows some upside prevailing. In the short term, the common currency could be seen retesting the lower support levels.
The U.S. Bureau of economic analysis will be releasing the second revised gross domestic product (GDP) estimates today at 13:30 GMT. The revised GDP estimates are likely to add another point for the Fed as it looks to hike interest rates this year. Today's binary options trading is USDJPY, the currency pair was seen attempting to bounce off the support level.
Economic data in the Eurozone has been broadly upbeat and the euro currency is showing signs of further strengthening. Today's forex binary signal is EURJPY, the euro has managed to pull back after price tested the previous highs near 133.00 levels.
The markets open the fresh week on a quiet note. The economic calendar today is very quiet especially during the Asian and the European trading session. The only major data point of release today is the U.S. new home sales data which covers the period of October. Today's binary options signal is EURUSD, the currency pair posted strong gains last week.
Today we are trading USDJPY, the currency pair weakened significantly on Wednesday but managed to form a doji candlestick pattern yesterday. This could suggest a short term reversal. Markit will be releasing the U.S. manufacturing and services PMI today at 14:45 GMT. The flash PMI's will cover the month of November and will offer some early insights into how the economic activity in the manufacturing and services sector has fared.
Today's binary options signal is EURUSD, despite the currency pair turning strongly bullish yesterday we expect that the downside will prevail as the currency pair tests the previously established resistance level. Besides the German GDP data, the flash manufacturing and services PMI numbers will also be released today. The data is expected to show that the economic activity from the leading nations continue to show upside momentum.
Today's durable goods orders cover the start of the fourth quarter period. Following the strong increase in September, durable goods orders are expected to moderate as a result. The data is unlikely to move the markets much but still the durable goods figures will shed some light into how the U.S. economy fared during the fourth quarter of the year.
The UK inflation report hearing is expected to begin today at 10:00 GMT. The inflation reporting hearing will see the Bank of England monetary policy committee defending its monetary policy actions while also providing input to the UK government on the state of the inflation increase. Today's forex binary signal is GBPJPY, the currency pair continues to remain range bound.
The German statistics office, Destatis will be releasing the monthly producer prices index data today at 0700 GMT. According to the economists polled, producer prices in Germany are forecast to rise 0.1% for the month ending October. Today's binary options signal is EURUSD, the currency pair touched a 4-week high last week before pulling back by the close of business.