Three reasons for buying a pound

Events, which should be paid attention to today:

16.30 Moscow time. USA: Changing the number of employees in the non -agricultural sector.


British currency is now trading in the area of ​​the 4-month maximum and the pound has good chances to continue the rising trend. Firstly, in the market of interbank lending in London, the growth of dollar interest rates ceased, which is negative for the exchange rate of the American currency. Bankers took a pause to evaluate further The prospects for toughening the US Federal Reserve Credit Policy, since Jerome Powell this week hinted at the upcoming completion of the interest rate growth cycle. Secondly, a positive trend is preserved in the British debt market, which is favorable for the growth of pound quotations – investors continue to buy up government bonds. Thirdly, the ascending trend in the black gold market will provide additional pound support, since oil and the British currency historically correlate among themselves. A number of Chinese politicians The day before, they stated that the Celestial Empire plans to gradually soften coronavirus restrictions, which is favorable for the growth of oil prices.

Trade recommendation: Buy 1.2190/1.2155 and Take Profit 1.2306.