UK Jobs report overview The UK labor market report, scheduled for release at 0830 GMT, is expected to show that the number of people seeking jobless benefits decreased by 2.1K during the month of June as compared to a decline of 7.7K in the previous month. Meanwhile, the unemployment rate is expected to hold steady at 4.2% in the three months to May. Conversely, average weekly earnings, including bonuses are expected to remain unchanged at 2.5% y/y in the three months to May. Excluding bonuses, the wages are seen ticking lower to 2.7% in the reported period, down from 2.8% previous. How could they affect GBP/USD? Yohay Elam, FXStreet’s own Analyst explains, “if it comes out at higher than expected with a relative deviation of 1.09 or higher(2.95 or higher in actual terms), the pair may go up reaching a range of 42 pips in the first 15 minutes and 84 pips in the following 4 hours.” He further adds: “If it comes out lower than expected at a relative deviation of -1.33 or less(2.83 or lower in actual terms), the GBPUSD may go down reaching a range of 48 pips in the first 15 minutes and 88 pips in the following 4 hours.” GBP/USD levels to watch Immediate resistance is pegged near 1.3275 level and is followed by July 10 high level of 1.3305, above which the pair is likely to aim towards 1.3363 area, near three-week tops set last week. On the flip side, the 1.3200 region now seems to protect the immediate downside, which if broken might turn the pair vulnerable to head back towards testing the 1.3110-1.3100 support before eventually dropping to YTD low level of 1.3050, set on June 28th. Key Notes “¢ GBP/USD Review: 1.3250 the level to capture and hold for Sterling bulls ahead of BoE Carney appearance “¢ How to trade the UK jobs report with GBP/USD “¢ Market themes of the Day: UK wages and Powell’s testimony headline the day About UK jobs The UK Average Earnings released by the Office for National Statistics (ONS) is a key short-term indicator of how levels of pay are changing within the UK economy. Generally speaking, the positive earnings growth anticipates positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/GBP Technical Analysis: Awaits UK jobs data/Carney to breakthrough a 1-week old trading range FX Street 5 years UK Jobs report overview The UK labor market report, scheduled for release at 0830 GMT, is expected to show that the number of people seeking jobless benefits decreased by 2.1K during the month of June as compared to a decline of 7.7K in the previous month. Meanwhile, the unemployment rate is expected to hold steady at 4.2% in the three months to May. Conversely, average weekly earnings, including bonuses are expected to remain unchanged at 2.5% y/y in the three months to May. Excluding bonuses, the wages are seen ticking lower to 2.7% in the reported period, down from… 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.
