All the figures beat on the UK jobs report: wages are up to 2.1% y/y in both headline salaries and wages excluding bonuses for June. The unemployment rate is down to 4.4%, also better than expected. The number of jobless claims for July dropped by 4.2K, better than a rise in the number of the jobless that was expected. GBP/USD is up, challenging 1.29, which is a level of resistance. Further resistance awaits at 1.2980. The high so far is 1.2896. It is important to note that standards of living are still falling: inflation in June stood at 2.6% while wages lagged behind at 2.1%. Here is the chart: The UK was expected to report a small rise in the number of the jobless in July: 3.9K against 5.9K in June (before revisions). The unemployment rate carried expectations for staying at 4.5% in June. Wages were predicted to stand at 1.8% y/y and wages excluding bonuses were forecast to stand at 2% y/y once again. GBP/USD was on the back foot. The pound suffered a small miss on the inflation report yesterday. With no acceleration in prices, the BOE has no reason to raise rates. In the US, the upbeat retail sales numbers gave a boost to the greenback. GBP/USD traded around 1.2850. Support awaits at 1.2820 and 1.2770. Resistance is at 1.29. The pound is also weaker against the yen and the euro. 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 On that CAD/Crude correlation – update Guest 6 years All the figures beat on the UK jobs report: wages are up to 2.1% y/y in both headline salaries and wages excluding bonuses for June. The unemployment rate is down to 4.4%, also better than expected. The number of jobless claims for July dropped by 4.2K, better than a rise in the number of the jobless that was expected. GBP/USD is up, challenging 1.29, which is a level of resistance. Further resistance awaits at 1.2980. The high so far is 1.2896. It is important to note that standards of living are still falling: inflation in June stood at 2.6% while… 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.
