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GBP/USD Trading - US personal spending - 29 Aug 2016

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GBP/USD Trading - US personal spending - 29 Aug 2016
4.9/5 of 7 ratings

Friday was volatile due to Janet Yellen speech

Janet Yellen said that the reason for the tightening is getting bigger. Inflation and unemployment are approaching the target levels of the Fed. But the regulator's decision on the rate increase will depend on the next reports. This means that we need to keep an eye on the US data.

This week will be rich for the fundamental data.

During the week we will see data on personal income and spending, consumer confidence from the Conference Board, pending home sales, the index of business activity in the industrial sector of the US. But the key event will be a report on the NFP.

If the number of new jobs will continue to grow at a rate above 200K, it will be another confirmation of the fact that the rate could still be raised at the next meeting.

Today the UK have the holiday. The United States will present data on personal spending and personal income. Today, Janet Yellen will also have a speech.

How to trade binary

We would buy put options if the pair falls below 1.3085.

Asset: GBP/USD
Direction: Put
Target price: 1.3085
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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