When is the UK Jobs Report and how could it affect GBP/USD?
The United Kingdom (UK) docket has the labor market report to be released by the Office for National Statistics (ONS) on Tuesday, later this session at 07:00 GMT. UK Claimant Count Change for October is expected to rise by 20.3K, reflecting the number of people claiming jobless benefits. The reading was 25.8 in September. Meanwhile, the Claimant Count Rate was at 4.4% in the previous month.
The GBP/USD pair holds losses as the US Dollar (USD) gains support amid growing hopes that the US government shutdown resolution is nearing. The US Senate passed a funding bill in a 60–40 vote, effectively ending the 41-day shutdown, with eight Democrats joining Republicans to advance the measure, which now moves to the House for approval. Read more…
GBP/USD holding just below 1.32 as UK labor data rounds the corner
GBP/USD kept its foot on the gas pedal on Monday, extending into a four-day win streak as Cable traders gear up for the latest round of UK employment figures. Veterans Day will see a moderation of market flows in the US on Tuesday, but hopes that the US could be close to wrapping up the longest government funding closure in its history should keep risk appetite well bid and put a hard cap on bullish US Dollar (USD) flows.
UK Average Earnings, Claimant Count Change, 3-month Employment Change, and 3-month ILO Unemployment Claims are all due at the outset of the London market session on Tuesday. Wages both with and without bonuses factored in are expected to tick down slightly for the rolling three-month period ended in September. The UK’s domestic economy is also expected to add slightly fewer unemployment benefits seekers in October than the month prior; however, the three-month ILO Unemployment Rate is expected to tick upwards to 4.9% from 4.8%. Read more…
GBP/USD consolidates as US shutdown optimism and BoE data drive sentiment
GBP/USD consolidates during the North American session on Monday, remaining steady at around 1.3150 amid growing speculation that the US government shutdown might end soon, a tailwind for the US Dollar (USD), which trimmed some earlier losses.
On Sunday, the US Senate passed a measure setting the stage for a reopening of the Federal Government, which has the support of some Democratic lawmakers. The decision was cheered by President Donald Trump, who said that it looks “like we’re getting very close to the shutdown ending.” Read more…
