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GBP/USD sits and waits

FOREX_GBPUSD-sits-and-waits_FXPIG
  • The GBP is bracing for UK wage figures early in the Europe session, the 'trigger figure' for rate hikes from the BoE.
  • Unemployment, claimant change figures also hit at the same time, and the Sterling is poised for a bull run if the numbers can hold.


The Sterling is holding steady at Monday's highs near 1.4340 heading into the European session, with UK Average Earnings in the barrel for 08:30 GMT.


GBP/USD Preview: breaking new ground as it looks for 1.44 ahead of UK jobs


Today sees Average Earnings both with an without bonuses, forecast at 3.0 and 2.8 percent respectively, compared to the previous readings of 2.8 percent and 2.6 respectively. Also on the docket and dropping at the same time is the ILO 3-month Unemployment Rate, which is expected to hold steady at 4.3 percent, while the Claimant Count Change is expected to decrease from the previous 9.2 thousand to 5 thousand.


UK wage growth is likely to be the deciding factor in a rate hike from the Bank of England (BoE) in May, although the BoE is largely expected to increase rates anyway. Brexit fears have disappeared from the Cable's market presence in recent weeks, as market participants are hopeful that a successful transition deal will be reached between the EU and the UK, despite there being no current signs of a framework close to being finished.

  • The GBP is bracing for UK wage figures early in the Europe session, the 'trigger figure' for rate hikes from the BoE.
  • Unemployment, claimant change figures also hit at the same time, and the Sterling is poised for a bull run if the numbers can hold.


The Sterling is holding steady at Monday's highs near 1.4340 heading into the European session, with UK Average Earnings in the barrel for 08:30 GMT.


GBP/USD Preview: breaking new ground as it looks for 1.44 ahead of UK jobs


Today sees Average Earnings both with an without bonuses, forecast at 3.0 and 2.8 percent respectively, compared to the previous readings of 2.8 percent and 2.6 respectively. Also on the docket and dropping at the same time is the ILO 3-month Unemployment Rate, which is expected to hold steady at 4.3 percent, while the Claimant Count Change is expected to decrease from the previous 9.2 thousand to 5 thousand.


UK wage growth is likely to be the deciding factor in a rate hike from the Bank of England (BoE) in May, although the BoE is largely expected to increase rates anyway. Brexit fears have disappeared from the Cable's market presence in recent weeks, as market participants are hopeful that a successful transition deal will be reached between the EU and the UK, despite there being no current signs of a framework close to being finished.

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