U.K. Claimant Count Change and Unemployment Rate
The key event from the U.K. will be Job Results and unemployment rate. It’s the first indication of the employment situation, released a month earlier than the Unemployment Rate. Source changed series calculation formula as of Jun 2015. Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country’s monetary policy.
Let’s how GBP has reacted during the previous data release:
- The sterling starts a new day on a lower note ahead of U.K.’s employment results and hovers around $1.3820 mark.
- Today pair made intraday high at $1.3845 and low at $1.3814 mark.
- A day chart and H1 chart with triple EMA suggests bearish trend for the time being.
- A sustained close above $1.3850 on H1 chart will check key resistances.
- Alternatively, a consistent close below $1.3812 will check further supports.
Take a look and do trade wisely!