GBP/USD is trading lower after employment figures disappointed. UK jobless claims jumped by 24,500, much higher than 15K that was expected. The unemployment rate remained unchanged at 7.7%. June is the fourth month in a row that Britain experiences a rise in the Claimant Count Change figure. The rise in claims, also reported in May (22.5K, revised higher from 19.6K), isn’t reflected in a rise in the unemployment rate for that month. Pound/dollar is now at 1.5920. The initial knee-jerk reaction sent it down to 1.59 and we see a small recovery. The move is somewhat limited. No rate is expected from the Bank of England anytime soon. Yesterday, fresh inflation data showed that price rises were easing. Headline CPI dropped to an annual pace of 4.2%. While this is high, it is lower than 4.5% that was expected. Core CPI dropped under 3%. Next week we’ll get to know what the members of the MPC were discussing when they decided to leave the rates unchanged once again. GBP/USD dropped to new lows yesterday, and bottomed out at 1.5780. It recovered nicely but couldn’t conquer the 1.60 line. Just before the release, it traded at around 1.5940. Support is found at 1.5950, followed by 1.5820. Resistance is at 1.60, followed by 1.6110. For more on GBP/USD, see the British pound forecast. 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next China lends a hand FxPro - Forex Broker 12 years GBP/USD is trading lower after employment figures disappointed. UK jobless claims jumped by 24,500, much higher than 15K that was expected. The unemployment rate remained unchanged at 7.7%. June is the fourth month in a row that Britain experiences a rise in the Claimant Count Change figure. The rise in claims, also reported in May (22.5K, revised higher from 19.6K), isn't reflected in a rise in the unemployment rate for that month. Pound/dollar is now at 1.5920. The initial knee-jerk reaction sent it down to 1.59 and we see a small recovery. The move is somewhat limited. No rate is… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
