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GBP/USD trading - Non-farm payrolls - 02 June 2017

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GBP/USD trading chart 2 June 2017
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Yesterday's US data was positive

The ADP non-farm employment change showed an increase of 253K against the forecast of 185K and 174K in April. The Manufacturing PMI from Markit increased from 52.5 to 52.7 in May. The ISM Manufacturing PMI showed 54.9 against 54.8 in April.

Today is the day of non-farm payrolls

Even a small deviation from the expected 185K can slightly affect the optimism of investors.

The unemployment rate is expected to remain unchanged, 4.4%. The average hourly earnings can show an increase of 0.2% per month. The April trade balance is projected to be -46.1 billion dollars against -43.7 billion in March. The good growth of the stock market, shown yesterday, demonstrates investors' optimism about today's data.

How we trade binary?

We would buy Put binary options with 20:00 GMT expiry if a one hour candle closes below the 1.2860 level. If our first target is not reached and the price goes above 1.2910, the first scenario would be invalidated. We would buy Call options if a one hour candle closes above the 1.2910 level.

Asset: GBP/USD
Direction: Put
Target price: 1.2860
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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