Cable initially fell by 580 points
Today during the Asian session we saw something incredible. In 10 minutes the Cable initially fell by 580 points. But then GBP/USD returned 450 points. We have no information about the causes of this decline from the current news agencies. Obviously, this was more than aggressive selling in the market.
Today the US will present data on the labor market.
The non-farm payrolls are expected to grow from 151K to 175K. The unemployment rate is expected unchanged 4.9%. The average hourly earnings can increase by 0.2% vs. the previous 0.1%. It’s also worth to pay attention to the speeches of the representatives of the Fed's Stanley Fischer, Meister Lorette, Esther George, Lael Brainard.
After such a decline the British data are unlikely to be important. The manufacturing production is expected to grow from -0.9% to 0.5%. The UK Trade Balance is expected with improvement: -11.1 billion pounds vs. -11.8 billion in July.
How to trade binary
We would buy Call options if the pair GBP/USD rises above 1.2550. We would buy Put options if the pair falls below 1.2380.
Expiry time: 20:00 GMT