U.K. Claimant Count Change
Today U.K. has scheduled to release Job Results at 0600 GMT/1130 IST. It’s the first indication of the employment situation, released a month earlier than the Unemployment Rate. 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 see how GBP has reacted during the previous data release:
- The sterling trades flat on Tuesday ahead of U.K.’s Claimant Count Change Results and hovers around $1.3850 mark.
- Today pair made intraday high at $1.3850 and low at $1.3826 mark.
- A day chart is down and H1 chart with triple EMA suggests bullish trend for the time being.
- A sustained close above $1.3856 on H1 chart will check key resistances.
- Alternatively, a consistent close below $1.3820 will check further supports.
Take a look and do trade wisely!