Good news from the UK: the unemployment rate fell to 6% in August. Average earnings rose 0.9% (bonuses excluded) or 0.7% all in all. The figures came out better than expected. However, the more updated jobless claims for September fell less than expected, 18.6K. The initial reaction is a rise in GBP/USD, that was edging higher already before the publication, but the move isn’t strong. Update: it seems that the more recent data has the upper hand, with cable struggling to hold above 1.59 after the initial rise. The UK was expected to report another nice drop of 34.2K unemployed in September (Claimant Count Change). For the month of August, a drop in the unemployment from 6.2% to 6.1% was on the cards. Last but certainly not least, the Average Earnings Index (3 months rolling) was expected to rise by 0.7% after 0.6% in July. GBP/USD was trading on low ground, around the round 1.59 line, after falling sharply yesterday. Inflation fell to 1.2%, the lowest level in 5 years. This shifted rate hike expectations further into 2015, some say August, and it hurt the pound. Support awaits at 1.5850 followed by 1.5720. Resistance is at 1.60, followed by 1.6050. For more, see the GBP USD 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 EUR/USD Oct. 15 – About to get busy in the lower range Yohay Elam 7 years Good news from the UK: the unemployment rate fell to 6% in August. Average earnings rose 0.9% (bonuses excluded) or 0.7% all in all. The figures came out better than expected. However, the more updated jobless claims for September fell less than expected, 18.6K. The initial reaction is a rise in GBP/USD, that was edging higher already before the publication, but the move isn't strong. Update: it seems that the more recent data has the upper hand, with cable struggling to hold above 1.59 after the initial rise. The UK was expected to report another nice drop of 34.2K unemployed… Top 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.
