Analysts at TDS point out that for UK data today, we have the unemployment rate and wage figures for April and they are looking for the unemployment rate to hold steady at 4.2% for the third month in a row.
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“And for wage growth we’re probably through the easy gains now from base effects, and would have to see a more fundamental acceleration in order the boost the y/y prints. We look for ex-bonus wage growth to hold steady at 2.9% y/y (mkt 2.9%), but for both total wage growth and private sector regular pay to fall by a tenth on a y/y basis, to 2.5% and 2.9%, respectively.”
“What might get even more attention today though will be the start of debate and voting on 15 amendments to the Brexit bill that in the House of Commons beginning at 12:30pm. Votes today will include the “Meaningful Vote” amendment, which will likely be decided by rebels on both sides of the floor.”
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