The second half of last week saw a major upward movement for the leading commodities. Since risk-appetite returned to the markets, investors decided to buy into the most traded commodities. Gold futures climbed to the $1,752.05 level, an increase of $23.85. The crude binary option jumped 1.03% to $88.28. Other commodities made substantial gains as well. The advances were mainly due to positive data regarding German consumer sentiment, as well as to the anticipation of a solution to the economic woes in Greece.
The leading US stocks were bullish last week. The Dow Jones Industrial Average gained 172.79 points, an increase of 1.35%, bringing it to the 13,009.68 level. Binary options economists predict that Monday’s session will see a continuation of last week’s bullish behavior for commodities.
Unlike the strong stocks and commodities, the greenback performed bearishly last week. The euro and the pound made the most notable gains. Since the eurozone has been releasing a lot of positive data lately, the euro was favored by investors last week. Binary options traders chose to sell the USD as a result of the heightened optimism. This week’s main events – Monday November 26 – Friday November 30: Monday November 26:
All Day EUR Eurogroup Meetings –
Eurogroup meetings are usually held in Brussels and attended by the Eurogroup President, Finance Ministers from euro area member states. Tuesday November 27:
13:30 GMT USD Core Durable Goods Orders m/m
Change in the total value of new purchase orders placed with manufacturers for durable goods, excluding transportation items.
15:00 GMT USD CB Consumer Confidence –
Level of a composite index based on surveyed households. Wednesday November 28:
00:30 GMT AUD Construction Work Done q/q – Change in the total inflation-adjusted value of construction projects completed. This release gives insight into the GDP data which is released about a week later.
15:00 GMT USD New Home Sales – Annualized number of new single-family homes that were sold during the previous month. It's a leading indicator of economic health.
17:15 GMT CHF SNB Chairman Jordan Speaks – As head of the central bank, he has more influence over the nation's currency value than any other person.
23:50 GMT JPY Retail Sales y/y – Change in the total value of sales at the retail level. It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity. Thursday November 29:
Tentative EUR Italian 10-y Bond Auction – Average yield on 10-year bonds the government sold at auction, and the bid-to-cover ratio of the auction.
10:30 GMT GBP BOE Gov King Speaks
– Due to hold a press conference about the Financial Stability Report, in London. More hawkish than expected = Good for currency.
13:30 GMT USD Prelim GDP q/q – The annualized change in the value of all goods and services produced by the economy. It's the broadest measure of economic activity and the primary gauge of the economy's health. Friday November 30:
07:00 GMT EUR German Retail Sales m/m
– Change in the total value of inflation-adjusted sales at the retail level, excluding automobiles and gas stations. It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity.
13:30 GMT CAD Personal Spending m/m – Change in the inflation-adjusted value of all expenditures by consumers. Consumer spending accounts for a majority of overall economic activity. It's one of the most important gauges of economic health due to the vast ripple effect consumer buying creates in the economy.