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UK jobless claims rise only 0.7K

Mixed data from the UK job market. Jobless claims are up only 0.7K in September, but this comes on top of a revision from August: from 2.4K to 7.1K, which is not good news. The unemployment rate for August remains unchanged at 4.9% as expected. Wages are up 2.3% y/y and excluding bonuses, they are also up 2.3% y/y. The latter figure is a beat of expectations.

GBP/USD is flirting with 1.23 in the immediate aftermath.

The UK was expected to report a rise of 3,000 in the number of jobless claims (Claimant Count Change) in October, following an increase of 2,400 in September.  The unemployment rate for  August was predicted to remain unchanged at 4.9% for another month. Also, wages were  projected to remain steady at 2.3% in the headline figure and 2.1% in the measure excluding bonuses.

GBP/USD was trading at the higher end of the post-flash-crash range, around 1.2285.


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.