The sterling pound even wins when the United Kingdom unemployment rate accelerates
The sterling pound (GBP) lies upwards in front of its main peers, except against the US dollar, on Thursday. The British currency wins after a report from the United Kingdom labor market (UK), which showed more employment levels but also a higher unemployment rate.
The ILO unemployment rate has increased to 4.7%, above the expectations and the previous reading of 4.6%. However, the report showed that the number of workers added by employers in the three months that ended in May was older, with 134K, compared to the previous 89K reading. Read more…
GBP/USD Forecast: Esterlina Libra limits losses behind the United Kingdom’s employment data
The GBP/USD quotes slightly on the day around 1,3400 in the European session on Thursday. Although the sterling pound gains strength against other important currencies, the technical panorama of the GBP/USD does not yet aim to an accumulation of recovery impulse.
The United Kingdom National Statistics Office (ONS) reported early on Thursday that the ILO unemployment rate rose to 4.7% in the three months to May from 4.6%. In this period, the change in employment increased by 134,000, after the increase of 89,000 previously registered. Finally, annual salary inflation, measured by change in average income excluding bonuses, decreased to 5%, exceeding the market expectation of 4.9%. Read more…
Elliott Wave technical analysis for GBP/USD [Video]
Elliott Wave’s daily analysis for GBPUSD shows that the currency pair is going through a correction against the trend. Wave 4 in navy blue is developing within a broader frame 1 in gray, pointing out a short -term setback after the previous impulsive movement that was completed with the 3 wave in navy blue. 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.
