Market events have great impact on gold prices and can produce trading opportunities for gold binary options traders. We highlighted for you the main events for the week of May 11th 2015 on the Gold spot.
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Let’s review the events. All times are GMT.
- UK Official Bank Rate: Published on Monday at 12:00 GMT. The market expects a score of 0.50%. If the outcome is 0.25% or higher, CALL on Gold. If the result is 0.75% or lower, PUT option on Gold.
- UK Manufacturing Production: Tuesday, 09:30. Exp. 0.3%. 0.5% or higher, CALL on Gold. 0.1% or lower, PUT on Gold.
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- U.S. JOLTS Job Openings: Tuesday, 15:00. Exp. 5.21M. 5.28M or more, PUT on Gold. 5.11M or less, CALL on Gold.
- German Prelim GDP: Wednesday, 07:00. Exp. 0.5%. 0.8% or higher, CALL on Gold. 0.3% or lower, PUT on Gold.
- U.S. Business Inventories: Wednesday, 15:00. Exp. 0.2%. 0.4% or higher, PUT on Gold. 0.1% or lower, CALL on Gold.
- U.S. Unemployment Claims: Thursday, 13:30. Exp. 271K. 274K or more, CALL on Gold. 264K or less, PUT on Gold.
- U.S. Prelim UoM Consumer Sentiment: Friday, 15:00. Exp. 96.5. 96.8 or more, PUT on Gold. 95.7 or less, CALL on Gold.
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These expected market reactions and setups are general market commentary. This is by no means any type of investment advice.
Quick explanations:
CALL options – if the price closes at a higher level than the price you purchased at expiry time, you make 75%. If it closes below, you’re left with 10%.
PUT options – if the price closes under the price you purchased at expiry time, you make 75%. If it closes above, you’re left with 10%.
The data for these news events has been analyzed given previous releases and reactions, current market conditions and more. Significant surprises to market consensus, as given by surveys of economists, normally trigger sharp market reactions that proceed for a long period of time. When some events collide with each other, they can offset each other. So, these events aren’t in the list.
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