UK labour data positive - sterling lower

May 18, 2016

UK labour data showed an unexpected rise in pay, Average household income (excluding bonuses) lifting to a +2.0% y/y rate in the three months to March, up from 1.8% at the last measure. The bonus-included figure remained unchanged at +2.1% y/y. Unemployment for March remained unchanged at the cycle low of 5.1%, while the April claimant count dipped by 2.4k and the claimant rate remained unchanged at 2.1%. The pound very briefly rallied on the data in a knee-jerk reaction to the BoE-watched pay headline, but quickly turned lower.  GBPUSD currently trading at day lows of 1.4410, with the One Hour chart  having broken below some key moving averages and outside the lower Bollinger band.

The Brexit issue continues to dominate the horizon for sterling markets. The latest FT poll of polls has the Remain group on 46% the Leave campaign on 44% and the undecided down to 10%. A little over five weeks to referendum day and the polls continue to be erratic, no wonder GBP keeps finding sellers.

Publication source
HotForex information  HotForex reviews

September 27, 2016
Markets start last week of September on the back foot
It hasn't been a great start for global equities in this last week of September, with European indices dropping between 1.0 to 1.5 per cent during Monday’s morning session, mirroring a similar performance in Chinese and Japanese markets overnight...
September 23, 2016
Gold rises to critical level on lower-for-longer policy signals
The price of gold extended its rebound modestly on Thursday after the US Federal Reserve provided some key signals on Wednesday that, despite a considerable probability of one Fed rate hike by the end of this year...
September 22, 2016
Moving on from the Fed
The reaction seen in currency markets yesterday to respective central bank policy decisions was instructive of the change in dynamics that we’re seeing. The BoJ enacted a number of changes to its policy regime...

FIBO Group Rating
OctaFX Rating
XM Rating
Larson&Holz IT Ltd Rating
FXCM Rating
FBS Rating

Grand Option Rating
OptionsXO Rating
Porter Finance Rating
Binary Brokerz Rating
EZTrader Rating
OptionBit Rating