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Daily Archives: September 13th, 2017

13 Sept @ UK Claimant count and Unemployment Rate, Average Earnings Index

Believing that today’s data could also move the GBP, I decided to put in my straddle with the following details: –

Stop if Offered 1.3280, Spot 1.3312, Stop if Bid 1.3240

As it turned out, unemployment was lower, claimant count was lower and average earnings index was lower……………..does that all mean BOE may tighten monetary policy?

In the meantime, my stop if offered leg was triggered, but market wasn’t moving, it was gyrating between 1.3275 and 1.3285.

So I decided to square the position at 1.3275………….ALL SQUARE.

12 Sep @ UK CPI

Felt that this would be a mover, so decided to put on my straddle just before release of data with the following details: –

Stop if Offered 1.3170, Spot 1.3200, Stop if Bid 1.3230

As it turned out, CPI shot up to 2.9% against forecast of 2.8%, core CPI at 2.7% against forecast of 2.5%, PPI elevated to 0.4% from 0.1%.

GBP strengthened and triggered by Stop if Bid level.

I squared half the position at 1.3255 for a trading profit of 25bps and squared the balance at 1.3270 for a trading profit of 40bps.

Not a bad start after not trading for over a month.

Next is Claimant count and then BOE decision