Yesterday the main event was the fall of oil
The WTI oil fell by 4.9% after the release of data on oil reserves, which showed a weekly increase of 8.21 million barrels against the expectations of 1.97 million and 1.50 a week earlier. The forecast for the world demand for the 4th quarter was also lowered.
The US data were better than expected
In February the ADP non-farm employment change showed an increase by 298K against the expectations of 190K.
Today, the UK has an empty calendar. The US traditionally publishes data on the initial jobless claims. But it is worth to pay attention to the auction for 30-year government bonds ($12 billion). The matter is that since the beginning of the year the Treasury has reduced the US foreign debt by $80 billion, and now its gradual growth is taking place. Investors are interested how long this trend will last. In the current situation, a new stage of government bond placement increases the demand for the US dollars (and the debt increases by another 30 billion).
How we trade binary
We would buy Put options if the pair GBP/USD goes below 1.2140. This scenario would be invalidated if the pair goes above1.2213 in which case we would go for Call options with the end of the expiry.
Target price: 1.2140
Expiry time: 21:00 GMT