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

GBP/USD Trading - US Non-farm employment change - 5 Oct 2016

You are here

GBP/USD Trading - US Non-farm employment change - 5 Oct 2016
5/5 of 4 ratings

Investors have decided to continue buying the US dollars on the back of political and economic uncertainty.

This has helped the US dollar to strengthen and reach 1.2720.

Today we will see a lot of interesting data.

The United States will present data on the factory orders for August, which is expected to decline. The ISM Non-Manufacturing PMI is projected to rise from 51.4 to 53.0. The US trade balance may show a slight improvement: -39.30 billion vs. -39.5 billion in July.

The Non-farm employment change from ADP is expected at 166K against the previous 177K.

How to trade binary

We would buy put options if the pair GBP/USD falls below 1.2705. We would buy Call options if the pair rises above 1.2790.

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