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

GBP/USD Trading - US Consumer Confidence - 27 Sep 2016

You are here

GBP/USD Trading - US Consumer Confidence - 27 Sep 2016
5/5 of 3 ratings

Yesterday the pair GBP/USD was trading in the narrow range as we expected.

In the US, new home sales were better than expected (609K vs. 598K).

In the UK, the number of mortgage approvals by BBA data dropped from 37.7K to 37.0K.

Today the US will release data on Consumer Confidence from CB for September. The forecast is 8 against 9 in August. In the US, the index of business activity in the services sector is expected to increase from 51.0 to 51.1.The Richmond manufacturing index can increase from -11 to -2.

How to trade binary

We would buy Call options if the pair GBP/USD rises above 1.30. We would buy Put options if the pair descends below 1.2905.

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