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GBP/USD Trading - US initial jobless claims - 6 Oct 2016

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The US dollar hardly reacted to the positive US data.

ISM Non-manufacturing PMI jumped from 51.4 to 57.1 while waiting for 53.1. The factory orders increased by 0.2% against the forecast of - 0.4%. The Markit Services PMI showed 52.3 against the expectations of 51.9.

However, the ADP Non-farm employment change came out worse than forecast and the previous indicator, 154K vs. 166K and 175K.

Today is the day of waiting for the Friday’s US labor data. In the US, the number of initial jobless claims is expected with a slight change 257K vs. 254K last week.

If we focus on the ISM Non-Manufacturing PMI, then tomorrow's employment data can be even better than the forecast 175K vs. 151K in August.

How to trade binary

We would buy Call options if the pair GBP/USD rises above 1.2775. We would buy Put options if the pair falls below 1.27.

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.

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