Intraday Market Thoughts

Ahead of UK Jobs, BoE & FOMC Minutes

by Ashraf Laidi
Feb 18, 2014 23:53

GBP attempts regaining the $1.67 figure ahead of Wednesday's jobs figures, which consist of the ILO Dec unemployment rate, seen unchanged at 7.1%; jobless claims seen -20K from -24K and average weekly earnings at 1.0% y/y from the previous 0.9%. Average earnings are equally important and bullish for GBP in the event of a steady increase. Also due at 9:30 GMT is the minutes of the last BoE meeting, which will likely regenerate the Banks' positive assessment and relazed stance towards inflation. Any renewed gains in GBPUSD should be carefully approached ahead of the release of the FOMC minutes, which will re-iterate the case for continued tapering and likely boost the USD.

Today's Premium Insights have a new GBPUSD trade with 3 charts. Existing trades are USDJPY, AUDUSD and AUDCAD.
Act Exp Prev GMT
Average Earnings excluding Bonus (DEC) (3m/y)
0.9% 0.9% Feb 19 9:30
Average Earnings including Bonus (DEC) (3m/y)
1.0% 0.9% Feb 19 9:30
ILO Unemployment Rate (DEC) ((3m))
7.1% 7.1% Feb 19 9:30
Claimant Count Change (JAN)
-20K -24K Feb 19 9:30
Claimant Count Rate (JAN)
3.7% Feb 19 9:30

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