UK unemployment was unchanged in the quarter to May, signaling that the country’s labor market remained tight even as economic growth slowed. The UK unemployment rate stood at 3.8% in the quarter, unchanged from the previous quarter, according to figures from the statistics office. Employment continued to rise, with the number of wage earners increasing […]
Tag: United Kingdom
EUR/GBP Hits 3-Week Lows Below 0.8500 on Johnson’s Resignation
Prime Minister Johnson will step down as leader of the Conservative Party. The pound advanced in the market due to an easing in the climate of political tension. EUR/GBP confirms short-term trend line break. EUR/GBP broke below 0.8530 and fell to 0.8491, hitting the lowest intraday level since June 10 after news broke that Johnson […]
GBP/USD Surpasses 1.2000, Pound Strengthens on Johnson Exit
The prime minister is expected to announce the resignation on Thursday. The pound gains ground in the market after the news. GBP/USD rises to two-day highs. The GBP/USD returned above 1.2000 and climbed to 1.2022, the highest level in two days after learning that the Prime Minister of the United Kingdom, Boris Johnson will resign […]
UK: Recession discontent sends pound to worst quarter since 2008
According to economists at AllianceBernstein, “the UK economy is falling apart”. The evidence is everywhere, according to Bloomberg. Households are losing purchasing power, the cost of essential goods is soaring and business confidence is dismal. The pound is coming off its worst quarter since 2008 and sank below $1.20 on Friday. While economic reports point […]
United Kingdom: Barrage of macro negatives for the economy
Household incomes in the UK fell for the fourth consecutive quarter in early 2022, the biggest drop since the data began in 1955, as the cost of living crisis worsened. Adjusted for inflation, disposable income fell -0.2% in the first quarter, according to the ONS statistical service. They fell 1.3% year-on-year, even before tax and […]
United Kingdom: GDP for the first quarter meets forecasts and falls to 0.8%
The Gross Domestic Product (GDP) of the United Kingdom it has met expectations, falling five tenths in the first quarter of 2022 compared to the fourth of 2021. The indicator stood at 0.8% compared to the previous 1.3%, its lowest figure in a year. The Annualized GDP has grown 2.1 percentage points, reaching 8.7% vs. […]
UK: Ban on new Russian gold imports to be introduced at G-7
The United Kingdom, the United States, Japan and Canada plan to announce a ban on new gold imports from Russia during the Group of Seven leaders’ summit starting today, according to Bloomberg. Supported by London’s central role in the gold trade, “this measure will have a global scope, excluding goods from official international markets” and […]
G7 plans to ban new Russian gold imports
LAST UPDATE: 15:36 The United Kingdom, the United States, Japan and Canada plan to announce a ban on new gold imports from Russia during the Group of Seven leaders’ summit starting today, according to Bloomberg. Supported by London’s central role in the gold trade, “this measure will have a global scope, excluding goods from official […]
At $ 459 billion the cost of the coronavirus in the United Kingdom
The coronavirus pandemic has cost the UK government a total of 6 376 billion ($ 459 billion). The figures were released by the National Audit Office and show an increase of 6 6 billion in the last 10 months, with most of the cost going to support train traffic, even when the number of passengers […]
Inflation in the UK at 40 years high (upd)
LAST UPDATE 09:49 UK inflation soared to a four-decade high in May following massive cost increases in everything from fuel and electricity to food and beverages. The index stood at 9.1% from 9% a month ago, according to the statistical service. Consumer prices rose 0.7% on a monthly basis, from 2.5% in April. While the […]