Friday’s Nonfarm Payrolls were the lowest since 2010 as the U.S economy created only 38,000 new jobs.
This event turned out to be one of the best opportunities this year for binary traders as PUT options on the U.S dollar were valid for short expiries and ‘end of day’ expiries.
Gold jumped by $30 after the event and is now trading around $1240 an ounce with an upside target of $1275 an ounce.
The weak NFP has lowered expectations for a rate hike on June 15th therefore generating downside pressure on U.S bank stocks which dropped on Friday.
The U.K Referendum is approaching and the last polls show a first advantage for the ‘leave’ campaign. The gbp/usd pair is dropping fast and is trading below 1.44 with a downside target of 1.4340.
Downside momentum could escalate towards June 23rd and traders should diversify their portfolio by checking out U.K banks such as Barclays and the U.K FTSE.