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AUD/USD Trading - ADP Non-farm Employment - 03 Aug 2016

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AUD/USD Trading - ISM Non-Manufacturing PMI - 03 Aug 2016
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Yesterday the Reserve Bank of Australia lowered the rate from 1.75% to 1.50%. As a result, the Aussie went up high and gained more than 170 points.

This growth is explained by the fact that the market has taken into account this event before.

If you look, it will be clearly seen that the price reached the comfortable range of the first half of last year. It was in the same price range in March-April this year. Now it will be difficult to overcome this range 0.7530-0.7930.

The iron ore came close to $60, the oil price has stopped falling, the precious and industrial metals rise. But against this back the investors ignored the worsening of the trade balance -3.195 billion against -2.418 billion.

It's worth paying attention on the ISM Non-Manufacturing PMI which is expected to descend to 56.0 against the previous 56.5. The US is also to publish the ADP non-farm employment change. The forecast is 170-171K in July against 172K in June.

Tomorrow, Australia is to publish data on the retail sales. The forecast is 0.4% against the previous 0.2%.

How to trade binary

We would buy call options if the pair AUD/USD rises above 0.7630. We would buy put options if the pair falls below 0.7575.

Expiry time: 20:00 GMT

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.

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