Employment data in the UK
- The average earnings (including bonus) in the UK, fact 2.4%, forecast 2.5%.
- The claimant count change in the UK, fact 6.2K, forecast 3.8K.
- The unemployment rate in the UK, fact 4.0%, forecast 4.2%.
An employment report in the UK for June and July was mixed. Thus, the level of earnings continues to decline from April this year, and the number of jobless claims has increased. At the same time, a very positive factor of the report was a decrease in the unemployment rate to 4.0%, which meets the minimum value since April 1975.
Earnings chart in the UK
As a result, this report was received optimistically, but it is worth noting that the further growth of the pound is limited due to the overall ambiguity of the report. And do not forget about the fundamental risks of Brexit and the strengthening of the US dollar. So, technically, the GBP/USD pair is limited by resistance levels: 1.2840-50 and 1.2880.
Read also: “Fundamental analysis: Inflation and the impact of its indicators on world currencies”
Hanzenko Anton
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