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 4th 2015 on the Gold spot.
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Let’s review the events. All times are GMT.
- German Final Manufacturing PMI: Published on Monday at 08:55 GMT. The market expects a score of 51.9. If the outcome is 52.3 or more, CALL on Gold. If the result is 51.6 or less, PUT option on on Gold.
- U.S. Factory Orders: Monday, 15:00. Exp. 2.1%. 2.3% or higher, PUT on Gold. 0.1% or lower, CALL on Gold.
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- UK Construction PMI: Tuesday, 09:30. Exp. 57.6. 57.9 or more, CALL on Gold. 57.4 or less, PUT on Gold.
- UK Services PMI: Wednesday, 09:30. Exp. 58.6. 59.1 or more, CALL on Gold. 58.3 or less, PUT on Gold.
- German Factory Orders: Thursday, 07:00. Exp. 1.6%. 1.9% or higher, CALL on Gold. –1.2% or lower, PUT on Gold.
- U.S. Unemployment Claims: Thursday, 13:30. Exp. 275K. 278K or more, CALL on Gold. 260K or less, PUT on Gold.
- UK Trade Balance: Friday, 09:30. Exp. -9.8B. -8.8B or more, CALL on Gold. -10.6B or less, PUT 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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