Investors wait for the official clarification what happened on Friday
On Friday, the incredibly low Nonfarm Payrolls excited the markets. In May, only 38 thousand new jobs were created instead of forecasted 159K-165K.
As a result, the expectations for the June rate increase have fallen to 37.25%, and now the market expects the next increase in November (50.5%). But this is the result of only one day.
In the current situation, investors wait for the official clarification what has happened. And in this regard, the main event of the day will be the speech of Janet Yellen in Philadelphia. The other important news isn’t scheduled for today.
Today the British pound shows the non-trading situation.
How to trade
We expect a continuation of the downward movement if the pair will overcome the range of 1.4394 - 1.4352. The short-term upward movement is possible after the breakdown of the level 1.4482. We would buy put options if the pair falls below 1.4352. We would buy call options if the pair rises above 1.4482.
Expiry time: 20:00 GMT