Trading United Kingdom Unemployment News
LATEST HEADLINES FOR THIS OCTOBER RELEASE
- Bank of England data dependant
- Bank of England open to aggressive rate cuts
- Latest Unemployment report came in weaker
- Latest UK Average Earnings (Ex-Bonus) report came in weaker
- Latest UK Average Weekly Earnings YoY report came in weaker
- Latest UK Employment Change came in stronger
United Kingdom Unemployment News FORECAST DATA
- News Prep
- Unemployment Rate
- Average Earnings (Ex-Bonus)
- Average Weekly Earnings YoY
- Employment Change
- Forecast
- 4.1%
- 4.9%
- 3.7%
- 250K
- Previous
- 4.1%
- 5.1%
- 4%
- 265K
- Lowest
- 4.1%
- 4.8%
- 3.6%
- 190K
- Highest
- 4.3%
- 5%
- 4.1%
- 400K
STRONGER PRINT
UK Unemployment
- Bullish GBP
- Bullish Yields
- Bearish Equities
WEAKER PRINT
UK Unemployment
- Bearish GBP
- Bearish Yields
- Bullish Equities
BIGGER PICTURE
With the Bank of England focusing on the labour market on unemployment and earnings, this report along with UK CPI and UK Retail Sales if we get a miss across all three, this will open the Bank of England to a possible rate cut next month. The Bank of England has recently pushed back on rate cuts being data dependant, however this stance changed two weeks ago when Bank of England came out and said it could be open to aggressive rate cuts subject to data and the economy.
If we see a weaker print across the board for United Kingdom Unemployment today this continues the support for a further rate cut in November. We would expect to see weaker GBP and yields.
If we see a stronger print across the board for United Kingdom Unemployment today along with stronger United Kingdom CPI, this could push back on further rate cuts from the Bank of England. We would expect to see stronger GBP and yields.
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