As it was expected, Thursday was another favorable day for volatility buyers. The volatility of GBPUSD remained high throughout almost the entire European trading session.
The US and EU’s data were the market drivers. Great Britain’s industrial production came out 0.2% worse than expected. The ECB raised the key interest rate by 0.25% while the Bank of England left its rate unchanged. Germany’s industrial production showed a considerable increase (+1.4%).
The Automatic Data Processing’s employment data (USA) had a significant impact on the level of volatility: the amount of new jobs in the country’s private sector grew by 90K. At the same time the amount of unemployment claims declined.
Jean-Claude Trichet gave traders and investors to understand that the ECB is not going to raise the official bank rate any more this year.
Today’s news background is going to be as rich as yesterday’s one. The most significant one is the US block on unemployment. The UK’s PPI is also worth paying attention to.
Provided by the Department of Options,
