The sterling pound faces pressure while the data of the labor market of the weak United Kingdom are paved the way to cuts of the BOE rates
The sterling pound (GBP) operates with caution in front of its peers on Tuesday after the publication of the United Kingdom labor market for the three months that ended in March. The National Statistics Office (ONS) reported that the ILO unemployment rate accelerated to 4.5%, as expected, from 4.4% in the three months that ended in February. In the same period, the economy added 112,000 new workers, significantly less than the previous publication of 206,000.
The growth of employment in the United Kingdom is slowed, reflecting the impact of the increase in employers’ contribution to social security schemes and caution among business owners in anticipation of the tariffs of the president of the United States (USA), Donald Trump. The report did not capture any effect of the tariff reduction agreement between the US and the United Kingdom, since it was announced long after data collection.Read more…
GBP/USD Prognosis: The recovery of the sterling pound could continue to be limited, attention to the US CPI.
The GBP/USD wins traction and operates in positive territory above 1,3200 during the European session on Tuesdaysince the markets adopt a cautious posture before the key inflation data in the US April.
The GBP/USD turned down on the European morning on Monday while the US dollar (USD) gained strength against its rivals. After the first round of official conversations in Switzerland, the US and China reached an agreement to pause and reduce reciprocal tariffs, relieveing ​​fears about a commercial conflict in deepening and strengthening the USD.Read more…
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
