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UK Jobless Claims Plunge. GBP/USD Breaks Higher

The UK published employment data and it was quite mixed. The more recent data is better than the older figures.

GBP/USD rose before the release and after a short dip, it is now on the rise again.

: the good news is that jobless claims, Claimant Count Change, fell by a 15K. This is a really big fall and far better than a small rise of 0.1K that was expected. This figure is for August.

GBP USD Breaks Higher on Fall in UK Jobless Claims September 12 2012
GBP USD Breaks Higher on Fall in UK Jobless Claims – Click image to enlarge

The bad news is that the unemployment rate for July rose to 8.1%, worse than no change at 8% that was predicted.

These figures aren’t expected to move the Bank of England in its next decision in October.

GBP/USD also enjoyed the German court ruling, that approved the ESM.  Despite  the conditions, the court paved the way for usage of bailout funds and also ECB funds.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.