The Pound is trying to rise. Overview for 22.01.2020
GBPUSD moved upwards a bit thanks to the statistics on the employment, but it might be not enough to continue the momentum.
On Wednesday, the British Pound may try to keep yesterday’s momentum against the USD, but bulls might not be strong enough. The current quote for the instrument is 1.3047.
It became known yesterday that the Unemployment Rate in the United Kingdom remained unchanged at 3.8% in November, just as expected. As one can see from the report, the employment level added 0.6% and was 76.3%, which is the highest reading over the long haul.
The Average Earnings Index showed +3.2% 3m/y, the same as the period before. It appears that the incomes of the British people continue expanding in real terms, which is quite good. However, even with all things considered, the previous numbers made it perfectly clear that the country’s economy was rather weak.
The Claimant Count Change showed 14.9K in December, the same as in the previous month. Market expectations were 33.4K.
Employers are really worrying that the Brexit uncertainty may continue throughout 2020, thus preventing both enterprises and the employment sector from developing.