UK average earnings in focus

11 November, 2015

Some mixed Chinese data earlier this morning with higher than expected retail sales but lower industrial production indicates how the world’s second largest economy is shifting to a more consumer based economy. This has had little impact on FX markets overnight, the Aussie is above the 0.7000 level which remains a major support level, cable is holding onto 1.5000 and EURUSD keeps 1.0600 at bay. But European stocks are expected to bounce on the open in what is likely to be another quiet trading session.

Sterling will be in the spot light once again though with UK unemployment data out this morning. Despite market expectations for the first rate hike from the Bank of England to be at the back end of next year, if indeed in 2016 at all, the pound has recouped a lot of ground against the single currency with EURGBP heading back towards the 0.7000 level and the figure to watch will be the average earnings which is expected to rise from 3.0% to 3.2%. A strong release here could give sterling another push higher against the euro and test that 0.7000 level (1.4285 on GBPEUR) and it would put pressure on more MPC hawks to emerge.


Source link  
Politics Influence Markets

With fears abating surrounding the threat of Catalan independence, the EUR moved higher overnight. Catalan President Puigdemont stated...

US Unemployment at Lowest Level

On Friday, the US Department of Labour released Nonfarm Payrolls for September. The meagre forecast of 88K was beaten with an even worse...

Further Strong Data From the US

On Wednesday, the US Institute for Supply Management (ISM) released Non-Manufacturing PMI for September that surprised the market...


Upbeat Data Boosts Dollar

On Monday, the US Institute for Supply Management (ISM) released data showing the index of national factory activity surged to a reading...

Harvey & Irma Effects Still Evident

The EUR suffered a second day of selling pressure, as the markets are growing concerned that the rise in right wing nationalism witnessed...

Risk-On or Risk-Off?

The rhetoric continues between North Korea and the United States with North Korea’s Foreign Minister, Ri Yong Ho, describing President Trump’s recent comments as “tantamount...


German & New Zealand Elections

The results of the German Election have re-elected Chancellor Angela Merkel for a fourth term. Her CDU party won fewer votes than was expected and Chancellor Merkel...

Fed Holds Rates for Now But...

Unsurprisingly, the Federal Reserve kept rates on hold following the end of its 2-day meeting on Wednesday. They did, however, indicate that...

UK Unemployment at 42 Year Low

UK unemployment fell to its lowest level since 1975, data on Wednesday revealed. Unemployment fell by 75K, bringing the unemployment...

  


Share: