The expected correction didn’t take place
The British pound made attempts to correct under the pressure of the US dollar strengthening. In March, the British service PMI increased from 53.3 to 55.0 against the forecast of 53.5. ADP Non-Farm Employment Change showed an increase of 263K against the expectations of 187K. The ISM Non-Manufacturing PMI was worse than expected, but it could not significantly affect the optimism of investors.
Investors got the hope for the release of strong NFP on Friday
There were grounds for Friday's non-farm payrolls to go higher than forecasts which in turn raises the probability of a threefold increase this year. The FOMC protocols have inspired investors with the hope that there will be three higher rates this year.
Today we traditionally receive data on initial jobless claims. However, the market will expect tomorrow's data on the US labor market.
How we trade binary?
We would buy Call options from the current level of 1.2477.
Target price: 1.2477
Expiry time: 20:00 GMT