One of those much looked at economic data for the UK since it is a services economy.
I decided to place my straddle with the following details: –
Stop if Offered at 1.3175, Spot at 1.3197, Stop if Bid at 1.3215
Data came out mixed; claimant count was done, but job creation was poor, unemployment rate held constant at 4.3% and average weekly earnings edge upwards.
Market initially stayed quiet not knowing what to make of it and then it started selling off the GBP, I suppose the market took issue with the poor employment change or job creation data.
It triggered my Stop if Offered leg and I follow the market till I felt there was no more steam so I decided to square the trade at 1.3140 for a trading profit of 35bps.
Ok lah……….not too bad for the start of trading this week after coming back from a driving holiday in Malaysia……………..eat and drink.
The Panthenon Investment Group 