News of the day. January 21, 2014

January 22, 2014

Today important stats come from UK: Claimant Count Change and Unemployment Rate.

The number of unemployed is measured by the unemployment claims. December’s indicator is going to decrease by another 35 000, which is still too many comparing to the annual average.

November’s unemployment rate is expected to drop down to the level of 7.3% approaching the goal of 7.0%. According to Mark Carney, if unemployment rate reaches 7%, Bank of England will revise monetary policy and interest rate. However, the situation in regions is not so bright. The report of Trades Union Congress revealed that apart from London and South-East part of the country regional unemployment rate stays the same. If BOA considers these facts, interest rate won’t be changed anytime soon.

Positive stats from UK labour market may strengthen the Pound and the pair GBP/USD will probably go up to the levels of 1.6510 and 1.6540.

Dmitriy Zolotov

Analyst of LiteForex Group of Companies

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