Tatiana Kashyrskaia
Yesterday’s trading session wasn’t special for volatility buyers. There was almost no news background. The British Pound was slowly and gradually consolidating against the US Dollar. It passed 100 points, thus breaking the option barrier 1.5635.
Today’s news reports are expected to improve the situation. The UK’s Prelim GDP and Manufacturing Production and Jean-Claude Trichet’s speech are worth paying attention to. Investors are waiting for Jean-Claude Trichet to make some steps to support the eurozone’s banking sector. The UK’s manufacturing data has recently shown poor data, thus hinting at a recession. It is obvious that any major deviation from the forecast will cause volatility spikes.
Moreover, today the US companies are to start another season of quarterly reports, which always has an unambiguous impact on the trend direction.
At this point, GBPUSD is stuck between 2 option barriers (1.5635 and 1.5474).
Provided by the Department of Options,
Tatiana Kashyrskaia
