It’s time to pay attention to the US GDP data
British Prime Minister Teresa May initiated the launch of the 50th article of the EU Treaty on the withdrawal from the European Union. The Prime Minister softened the rhetoric a bit, departing from the original rigid theses. Politicians argue about the amount of compensation that the United Kingdom must pay - about 50 billion euro.
Yesterday data were mixed
In February the number of mortgage approvals was 68.32K against 69.11K in January (revised down from 70K), but the volume of net lending to individuals increased from 4.8 billion pounds to 4.9 billion.
In the US, the pending home sales increased by 5.5% in February against the expectations of 2.4%. Today the US GDP for the 4th quarter will be the main news. The forecast is 2.0% vs. 1.9%. In addition, the number of initial jobless claims is expected at 248K against 261K a week earlier.
How we trade binary?
We would buy Put options if the price goes below the 1.2420 level. This scenario would be invalidated if the pair goes above 1.2461, in which case we would go for Call options with the end of the expiry.
Target price: 1.2420
Expiry time: 20:00 GMT