UK Jobs report overview The UK labor market report is expected to show that the average weekly earnings, including bonuses, in the three months to August rose by 3.9% as against 4.0% growth recorded in the previous month. Excluding bonuses, the wage growth is seen ticking lower to 3.7% during the reported period from 3.8% previous. Meanwhile, the number of people seeking unemployment-related benefits is forecasted to come in at 27.9K in August and the ILO unemployment rate is expected to hold steady at 3.8%. How could the data affect GBP/USD? As Yohay Elam, FXStreet’s Analyst explains – “An upbeat advance in pay will likely have a more significant positive effect if the UK and the EU are closer to a deal, and GBP/USD already enjoys an uptrend. If headlines are pessimistic, sterling may be unable to benefit from upbeat economic developments.” “The same goes for a disappointing outcome. A substantial slowdown in wage growth may exacerbate cable’s fall if headlines are pessimistic. However, if the market believes that a Brexit deal that can pass parliament is imminent – sterling will likely shrug off weak data,” he added further. Key Notes UK jobs report preview: GBP/USD set to react to figures that go with the Brexit mood GBP/USD forecast: Bulls trying to regain control amid hopes of a Brexit deal, UK jobs report eyed GBP/USD: Options market turns bullish on Sterling for first since January 2018 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 French EU Minister: We seek a Brexit deal but not at any price FX Street 4 years UK Jobs report overview The UK labor market report is expected to show that the average weekly earnings, including bonuses, in the three months to August rose by 3.9% as against 4.0% growth recorded in the previous month. Excluding bonuses, the wage growth is seen ticking lower to 3.7% during the reported period from 3.8% previous. Meanwhile, the number of people seeking unemployment-related benefits is forecasted to come in at 27.9K in August and the ILO unemployment rate is expected to hold steady at 3.8%. How could the data affect GBP/USD? As Yohay Elam, FXStreet's Analyst explains - "An upbeat… 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.
