Sorry, you need to enable JavaScript to visit this website.

GBP/USD Trading - UK CPI - 13 Sep 2016

You are here

GBP/USD Trading - UK CPI - 13 Sep 2016
4.8/5 of 4 ratings

Yesterday, the cable recovered after Friday's decline.

Yesterday, the member of the Board of Governors of the Federal Reserve Lael Brainard said that the policy rate should be "prudent" and therefore it is undesirable to raise the rates untimely.

As a result, the probability of the September rate increase reduced to 28%.

Today the UK will present data on Core CPI, which is projected to rise from 1.3% y/y to 1.4% y/y. The CPI is projected to rise to 0.7% y/y against 0.6% y/y in July. The RPI projected to decline from 1.9% to 1.8%.

The United States will present data on Federal Budget Balance. In August the federal budget deficit is expected at -98.0 billion against -112.8 billion in July, this is one of the best indicators of August for the entire post-crisis period.

How to trade binary

The short-term downward movement is possible in the range of 1.3294 - 1.3252. We would buy Put options if the pair GBP/USD falls below 1.3294.

Asset: GBP/USD
Direction: Put
Target price: 1.3294
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.

You may also read