When is the UK Jobs Report and how could it affect GBP/USD?
The UK labor market report is due for release at 06:00 GMT this Tuesday and is expected to show that the ILO Unemployment Rate held steady at 4.7% during the three months to September. Meanwhile, the Average Weekly earnings, including bonuses, are expected to rise 4.7% during the reported period, while excluding bonuses, the growth in wages is seen slowing to 4.7% from 4.8% previously.
According to Michael Hewson, an independent analyst, “the prospect of further rate cuts from the Bank of England in the near term remains less likely than the government would like. In the 3 months to July, wage growth slowed only modestly to 4.8%, from 5%, while unemployment remained steady at 4.7%.” Read more…
GBP/USD slips as Dollar rebounds, ahead of UK data and Fed speeches
The GBP/USD ended Monday’s session with loses of 0.13% as the Greenback staged a recovery, after US President Donald Trump tempered its rhetoric on China, over the weekend. At the time of writing, the pair trades at 1.3333 as the Tuesday’s Asian session begins.
The daily recap shows that price action reversed its course as last Friday, Trump threatened to impose 100% additional tariffs on Chinese products, as China imposed duties on US vessels, and export controls on rare earths. Nevertheless, Trump posted in his Truth Social network that everything would be “fine,” echoed later by comments of Treasury Secretary Bessent who said that US and Chinese Presidents are set to meet at South Korea towards the end of the month. Read more…
