Yesterday GBPUSD got back into the price range formed by two option barriers - 1.6449 and 1.6327. The actual volatility of the currency pair gladdened volatility buyers. The main drivers of the decline were the data on the European and American PMI and ADP Non-Farm Employment Change.
Both the indexes failed to come up to analysts’ expectations.
Today’s news releases will be of medium importance. The ECB President Trichet’s speech opens the session. the US news block comes next, including Initial and Continued Jobless Claims, Non-Farm Productivity and Factory Orders.
It should also be noted that tomorrow the US will release the most important economic data for the week including Non-Farm Employment Change. Consequently many speculators will abstain from trading until tomorrow.
Anyway volatility can be bought right now because the potential is high.
Provided by the Department of Options,
