GBP/USD – Pound Slips as UK Wage Growth Misses Forecast

Sep 13 15:09 2017 Print This Article

The British pound has posted losses in the Wednesday session. In North American trade, GBP/USD is trading at 1.3208, down 0.56% on the day. On the release front, British employment numbers were mixed. Average Earnings Index remained steady at 2.1%, shy of the forecast of 2.3%. There was better news from unemployment claims, which declined 2.8 thousand, more than the estimate of  a 0.8 thousand decline. As well, the unemployment rate edged lower to 4.3%, below the forecast of 4.4%. In the US, inflation numbers improved in August, but fell short of the estimates. PPI improved to 0.2%, shy of the estimate of 0.3%. As well, Core CPI gained 0.1%, short of the forecast of 0.2%. Traders should be prepared for a busy Thursday. The BoE will release the benchmark interest rate, while the US will publish CPI and unemployment claims.  

Read More

About Article Author

Market Pulse

Established in 2006, MarketPulse is a free news site that provides full-time coverage of the world's largest financial markets, focusing on forex, commodities, and global indices research and analysis. Armed with a global team of securities analysts and strategists, Market Pulse provides timely, accurate, and informative research on major macroeconomic trends, technical analysis, and worldwide events that impact different asset classes and investors.

Related Items

How a stronger Canadian dollar has ETF investors not hedging their bets

The streak is over. Canada’s ETF industry has suffered its first month of outflows in almost a full year, shedding $33 million* in net new business in September, according to BlackRock’s data. The outflow ends a stretch of 11 straight months of positive flows dating back to October 2016 that ha ...

Fed's Beige Book: "Modest to moderate"expansion, Labor markets "Tight"

Fed's Beige Book "This report was prepared at the Federal Reserve Bank of Minneapolis based on information collected on or before October 6, 2017"Reports from all 12 Federal Reserve Districts indicated that economic activity increased in September through early October, with the pace of growth spli ...

US Again Declines to Label China as a Currency Manipulator

The United States on Tuesday declined to name China as a currency manipulator although it remained critical of the Chinese government’s economic policies ahead of a planned visit to Beijing by President Donald Trump. The semi-annual U.S. Treasury currency report said no countries deserved the ...

OPEC to be Discussing 9 Month Extension to Oil Production Cut Deal

OPEC members are reportedly forming a consensus around extending their production cutting deal with other crude exporters by nine months, a move that would help to put a floor under oil prices. That would prolong the agreement among OPEC, Russia and other oil-producing nations to keep 1.8 million b ...

US Tech Companies Step up NAFTA Lobbying

Tech companies such as Amazon, Microsoft and Cisco are spending more on lobbyists to make their case about the North American Free Trade Agreement, as negotiations about the future of that trade deal heat up. Trade negotiators have said that they will schedule talks on revamping NAFTA into next yea ...

Dow Jones Goes Above 23,000 on IBM Surge

The Dow Jones Industrial Average rallied above the 23,000-mark on Wednesday, propelled by IBM’s 9 percent surge after the computing giant hinted a return to revenue growth. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 13, 2017. REUTERS/Brendan McDermi ...

GBP/USD – Pound Ticks Lower on Mixed UK Job Numbers

The British pound is showing losses for a third straight day. In Wednesday’s North American session, GBP/USD is trading at 1.3174, down 0.11% on the day. On the release front, British employment numbers were mixed. Wage growth improved to 2.2%, above the forecast of 2.1%. However, unemployment c ...