U.K. employment data

• Average earnings index with bonuses (November), fact 3.4%,  forecast 3.3%.
• Claimant count change (December), fact 20.8K, forecast 20.0K.
• Employment change, 3m/3m (m/m), fact 141.0K, forecast 88.0K.
• Unemployment rate (November), fact 4.0%, forecast 4.1%.

An employment report in the UK in November was very positive despite the increase in applications for benefit. Positive data showed an increase in wages and a decrease in unemployment. Thus, the unemployment rate remains near multi-year lows, maintaining steady lateral dynamics. A wage growth remains near five-year highs, indicating the potential growth of the consumer price index. Fears have caused applications for unemployment benefits, but in general, they also remain moderate.

Fig. 1. U.K. Average earnings index with bonuses chart

The British pound reacted with restrained growth to a very positive employment report, limiting itself to political risks around the Brexit deal. General dynamics of the pair GBP/USD remains restrained positive, limited to resistance levels: 1.2930-50 and 1.2980-90, support: 1.2860-50 and 1.2810-00.

Fig. 2. GBP/USD chart. Current price – 1.2910

Read also: “Pricing in the financial markets – Three types. The advantages of each “

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Long-term investment in currency pairs! The EUR/JPY pair!
2. Geopolitical risks for the beginning of 2019! (Part 3)
3. Long-term investment in currency pairs! The GBP/USD pair!

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