Pound Sterling Price News and Forecast: GBP/USD trades in red ahead of the UK labor market data
|When is the UK labor market report and how could it affect GBP/USD?
The UK Office for National Statistics (ONS) will publish its labor market report at 07.00 GMT. The UK ILO Unemployment Rate is expected to rise to 5.1% in October from 5.0% in September. Employment Change arrived at -22K in September. The UK Claimant Count Change for November is projected to increase by 22.3K, reflecting the number of people claiming jobless benefits. The reading was 29K in October. Meanwhile, the Claimant Count Rate was at 4.4% in the previous month.
GBP/USD trades in negative territory on the day in the lead up to the UK labor market data. The pair loses ground as traders turn cautious ahead of the key US economic data, including Nonfarm Payrolls (NFP), Retail Sales, and Purchasing Managers Index (PMI), which will be released later on Tuesday. If data comes in better than expected, it could lift the Pound Sterling (GBP), with the first upside barrier seen at the 1.3400 psychological level. The next resistance level emerges at the December 11 high of 1.3438, en route to the October 17 high of 1.3471. Read more...
GBP/USD remains confined in a range above mid-1.3300s ahead of UK jobs report
The GBP/USD pair extends its sideways consolidative price move through the Asian session on Tuesday and currently trades around the 1.3370-1.3365 region, nearly unchanged for the day. Traders seem reluctant and opt to wait for this week's important macro releases and the key central bank event risk before placing fresh directional bets.
The UK monthly employment details will be published later today, ahead of the delayed US Nonfarm Payrolls (NFP) report for October. This will be followed by the latest UK inflation figures on Wednesday and the crucial Bank of England (BoE) policy decision on Thursday, which will play a key role in influencing the British Pound (GBP). Apart from this, the US consumer inflation figures on Thursday could determine the near-term trajectory for the GBP/USD pair. Read more...
GBP/USD nears 1.3400 as traders brace for BoE cut
GBP/USD advances during the North American session up 0.28% amid a scarce economic docket but following the Federal Reserve’s last week’s monetary policy decision, in which the central bank hinted a possible pause loom. The pair trades at around 1.3400 as traders brace for the Bank of England (BoE) decision, this week.
Risk aversion capped the GBP/USD advance on Monday along with expectations that the BoE would cut rates on Thursday. Money markets show that investors had almost fully priced in a 25-basis point (bp) rate cut, and another one towards mid-2026. Read more...
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