GBP/JPY drops below 161.00 as market mood sours, UK employment in focus – by Sagar_Dua24 GBPJPY RiskAversion NorthKorea Employment BOE
ff for the risk-sensitive assets. The cross has witnessed a steep fall after failing to sustain above the 162.00 hurdle and is expected to continue to remain on the edge ahead of the US employment data.
As per the consensus, the UK Office for National Statistics will report the Claimant Count Change data with a decline of 11.4k vs. the prior addition of a 6.3k. While the Unemployment Rate will land unchanged at 3.6%. The catalyst which will be worth scrutiny is the Average Earnings data, which is seen higher at 5.3% vs. the prior release of 5.2%.
Price pressures in the UK economy have not witnessed a peak yet due to the unavailability of exhaustion signals. And, in order to offset the impact of higher payouts due to inflation-adjusted necessities and durable goods, households need higher paychecks. Stagnant growth in the labor cost data is a reason for worry for the Bank of England policymakers.
On Friday, Deputy Governor Dave Ramsden warned that UK's energy support package represents a very significant fiscal intervention, which can be thought of as a shock, as reported by Reuters. Meanwhile, yen bulls are performing relatively better despite the escalating geopolitical tensions between Japan and North Korea. The statement from North Korean leader Kim stated that their administration need not have a dialogue with the enemy and the former will continue to strengthen its nuclear operations ahead. In response to North Korean military activities, Japan, South Korea, and the US have performed military drills.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD senses pressure near the 1.1100 hurdle ahead of UK employment dataThe GBP/USD pair has picked offers around the immediate hurdle of 1.1100 in the early Tokyo session. The cable is displaying signs of surrendering Fri
Read more »
Bitcoin price gives up key trend line as US jobs data deals 5% lossesBTC price action focuses on levels below $20,000 after Bitcoin suffers from U.S. jobs data.
Read more »
British Pound Weekly Outlook: Distressed GBP on the Backfoot Ahead of Next Week’s Key DataU.S. NFP print keeps pound depressed. UK labor data and U.S. inflation direct the economic calendar next week. Long upper wick adds to GBP woes – weekly chart.
Read more »
AUD/JPY Price Analysis: Has further downside room as sellers approach 92.00AUD/JPY Price Analysis: Has further downside room as sellers approach 92.00 – by anilpanchal7 AUDJPY Technical Analysis SwingTrading ChartPatterns SupportResistance
Read more »
USD/JPY pokes 24-year high around 145.50 despite off in Japan, USUSD/JPY remains on the front foot around 145.50, poking the 24-year high marked in late September during Monday’s Asian session. The yen pair’s latest
Read more »
Weekly Forex Forecast \u2013 USD/JPY, AUD/USDThe Dollar was very mixed the week before last but has gained wide enough strength to be advancing now almost everywhere: Trading Forecast Forex
Read more »