Coming up at the bottom of the hour: UK wages and jobs data
Your UK data risk at 09.30 GMT 21 March
After yesterday’s softer inflation readings it’s the turn of UK wages ( primarily) and jobs data at the bottom of the hour.
Expectations:
- ave earnings 2.6% vs 2.5% prev
- ex bonus 2.6% vs 2.5% prev
- claimant count -5k vs -7.2k prev
- unemployment rate 4.4% as prev
BOE, as other CBs place great store in wage growth and will want to see some consolidation at the very least if they’re still inclined to hike rates anytime soon, something I still doubt anyhow. Neither will they want to see a wobble, as last month, in the jobs report.
We may, as always expect an initial algo headline-led reaction to the data if wide of the mark so be ready with your entry/exit levels from whichever side you want to play. I remain a rally seller and this time looking around 1.4065 again but with better value between 1.3980.00
Placing limit orders in advance can often be useful given the occasional speed of moves and subsequent reversals, although equally it can be prudent to wait and manually trigger executions once you’ve sized up the data in its entirety and gauged the price action.
GBPUSD currently 1.3955 near session lows with EURGBP up to 0.8825 after holding 0.8800 again. GBPJPY selling notable again and now down to test 150.00 from 150.95 highs.
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