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AUD/USD Trading - US GDP - 29 Sep 2016

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AUD/USD Trading - US GDP - 29 Sep 2016
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The pair AUD/USD can reverse and begin to decline.

The last week the Aussie is trading under the influence of secondary factors.

Today, the publication of the US GDP data will be the main event.

The US will publish the 2nd quarter GDP data. The forecast is 1.3% against 1.1% in the 2nd assessment. The August pending home sales is expected at 0.3% against the previous 1.3%.

BHP Billiton made an emergency stop at the mine Olympic - Dam, which accounts for 13% of the total volume of the company. The growth of the oil price also looks uncertain. The price of iron ore didn’t respond to the rise of oil. It declined by 0.07% to 56.74 dollars per ton. However, non-ferrous metals industry is in a steady uptrend.

How to trade binary

We would buy Put options if the Aussie is below 0.7645. We would buy Call options if the pair AUD/USD rises above 0.7712.

Expiry time: 20: 00GMT

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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