UK wages slow down to 1.8%, unemployment rate at 4.5% – GBP rises

Average earnings were expected to slow down to an annual pace of 1.8% in May after increasing by 2.1% in April. Excluding bonuses, an acceleration from 1.7% to 1.9% was expected. Wages are running behind the rise in inflation, reflecting a drop in the standards of living.

The UK was expected to report a rise of 10,00 jobless claims in June after the Claimant Count Change advanced by 7.3K in May.

GBP/USD was trading around support at 1.2820. The pound dropped after BOE Deputy Governor Ben Broadbent opposed raising rates[1].

Further support awaits at 1.2775 and 1.27. Resistance is at 1.29 and 1.30.

Get the 5 most predictable currency pairs[2]

from Forex Crunch

from Online Forex Trading Resource
View thesource article here


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