Market Focus

On Wednesday, October 18, 2017, attention should be focused on the UK economic data. Today will be published data on the labor market and wages in the UK. These indicators are an excellent for assessment of the economic growth of the country, that is why they are given special attention in the conditions of Brexit.

According to the forecast, in September the change in the number of applications for unemployment benefits will be 1.0K, compared to August at -2.8K. The unemployment rate in August remained at the same level of 4.3%. The average wage level taking into account the premiums in August also remains at the level of 2.1%.

In the event that the data is released within the forecast, the pound will be under some pressure, Based on this data, a 30-point decline against the competition is excpected. If the data prove to be more positive than the previous ones, the pound might grow within 50 points against the basket of currencies.

Alexander Sivtsov