The main event of Friday - the US labor market data
The Non-farm payrolls amounted to 98K, against the expectation of 180K, but the total unemployment rate decreased from 4.7% to 4.5%. Nevertheless, there is nothing surprising in this, because the employment consists not only of Non-Farm Employment Change.
Other data also pleased investors
The participation rate remained at the same level, 63.0%, the average hourly earnings increased by 0.2%. The wholesale inventories increased by 0.4% in February. The consumer credit amounted to 15.2 billion compared to 10.9 billion in January. After such data, the market was already talking about the possible delay of the rate increase.
Today, the US and UK economic calendar are empty. However, it is worth to pay attention to the performance of Janet Yellen. Tomorrow a large volume of the UK fundamental data is expected. The inflation indices are forecasted to decrease, that can pressure on counter-dollar currencies.
How we trade binary?
In our view, the price will continue downward if reach 1.2366 level and we would buy Put binary options at that level. If our first target is not reached and the price goes above 1.2420, the first scenario would be invalidated and we would consider Call options with the end of the expiry.
Target price: 1.2366
Expiry time: 20:00 GMT