U.K. Claimant Count Change
The key event from the U.K. will be U.K.’s Claimant Count Change and Unemployment Rate. 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 marginally lower ahead of U.K. Employment Change Data and hovers around $1.3200 mark.
- Today pair made intraday high at $1.3216 and low at $1.3190 mark.
- A day chart and H1 chart with triple EMA suggest down trend for the time being.
- A sustained close above $1.3218 on H1 chart will check key resistances.
- Alternatively, a consistent close below $1.3186 will check further supports.
Take a look and do trade wisely!