News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The US Dollar still remains under pressure against most ASEAN currencies heading into May. A busy week awaits the Indonesian Rupiah, Thai Baht, Philippine Peso and Singapore Dollar. Get your market update from @ddubrovskyFX here:
  • #NOK #NZD and #AUD are expected to be the most-active #G10 FX against the US Dollar with one-week implied volatility at 11.20, 9.05 and 9.05 respectively [delayed] -BBG
  • Dogecoin continues to trade higher with explosive energy, attesting to the cryptocurrency's new clout. Meanwhile, Bitcoin and Ethereum sink. Get your #Dogecoin market update from @FxWestwater here:
  • Heads Up:🇦🇺 Ai Group Services Index (APR) due at 22:30 GMT (15min) Previous: 58.7
  • The US Dollar is still struggling against most ASEAN currencies. USD/SGD remains downside-focused despite recent gains. USD/THB is eyeing a triangle. USD/IDR and USD/PHP may point lower. Get your market update from @ddubrovskyFX here:
  • US Dollar Outlook: USD/CAD Volatility to Rise, Jobs Data Looms -via @DailyFX Link to Full Analysis: #NFP $DXY $USDCAD
  • Heads Up:🇺🇸 Fed Kaplan Speech due at 22:05 GMT (15min)
  • The Federal Reserve discussed the vulnerability of asset prices should appetite change. Get your market update here:
  • EUR/USD stronger amid broad USD weakness on Thursday $EURUSD
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.98% 🇨🇭CHF: 0.60% 🇦🇺AUD: 0.49% 🇳🇿NZD: 0.26% 🇯🇵JPY: 0.11% 🇬🇧GBP: -0.09% View the performance of all markets via
Upbeat U.K. Job/Wage Growth Report to Curb GBP/USD Losses

Upbeat U.K. Job/Wage Growth Report to Curb GBP/USD Losses

David Song, Strategist

- U.K Employment to Increase Another 120K in May.

- Average Hourly Earnings ex. Bonus to Increase for First Time Since November.

- For a Further Discussion, Join a LIVE session with the DailyFX Team.

Trading the News: U.K. Employment Change

U.K. Jobless Claims

A 120K expansion in U.K. Employment paired with a pickup in core household wages may spark a near-term rebound in GBP/USD as it puts pressure on the Bank of England (BoE) to start normalizing monetary policy.

Why Is This Event Important:

There appears to be a growing rift within in the BoE as Governor Mark Carney adopts a more hawkish tone and now warns ‘some removal of monetary stimulus is likely to become necessary.’ Signs of stronger job/wage growth may encourage the central bank to start normalizing monetary policy, but the majority of the Monetary Policy Committee (MPC) may merely try to buy more time at the next meeting on August 3 as officials argue ‘the projections that the Committee published in May showed that the economy was expected to operate with a small degree of spare capacity for most of the three-year forecast period, justifying the tolerance of some degree of above-target inflation.’

Impact that the U.K. Employment report has had on GBP/USD during the previous print


Data Released



Pips Change

(1 Hour post event )

Pips Change

(End of Day post event)



06/14/2017 08:30:00 GMT





May 2017 U.K. Employment Change

GBP/USD 5-Minute


U.K. Employment increased 109K in April, while Jobless Claims climbed another 7.3K in May after increasing a revised 22.0K during the previous month. At the same time, Average Hourly Earnings excluding Bonuses slipped to an annualized 1.7% from a revised 1.8% in March to mark the slowest pace of growth since January 2015. The British Pound showed a lackluster reaction to the batch of mixed data prints, with GBP/USD largely consolidating throughout the day as the pair closed at 1.2751.

How To Trade This Event Risk(Video)

Bullish GBP Trade: U.K. Job & Wage Growth Picks Up

  • Need a green, five-minute candle subsequent to the report to consider a long GBP/USD trade.
  • If market reaction favors a bullish British Pound trade, buy GBP/USD with two separate lots.
  • Set stop at the near-by swing low/reasonable distance from entry; look for at least 1:1 risk-to-reward.
  • Move stop to breakeven on remaining position once initial target is met, set reasonable limit.

Bearish GBP Trade: Employment Report Fails to Meet Market Forecasts

  • Need a red, five-minute GBP/USD candle to favor a bearish British Pound trade.
  • Carry out the same setup as the bullish Sterling trade, just in the opposite direction.

Potential Price Targets For The Release


GBP/USD Daily Chart

Chart - Created Using Trading View

  • Failure to test the May-high (1.3048) keeps the near-term bias for GBP/USD tilted to the downside especially as it carves a bearish outside-day (engulfing), while the Relative Strength Index (RSI) continues to come off of trendline resistance.
  • May see the rebound from the June-low (1.2589) continue to unravel as it struggles to hold above the 1.2860 (61.8% retracement) region, with the next downside region of interest coming in around 1.2630 (38.2% expansion) to 1.2680 (50% retracement), which sits just below the 100-Day SMA (1.2685).
  • Interim Resistance: 1.3460 (50% retracement) to 1.3481 (July high)
  • Interim Support: 1.1905 (2016-low) and 1.2100 (61.8% expansion)
IG Sentiment

Track Retail Sentiment in Real-Time with the New Gauge Developed by DailyFX

Retail trader data shows 47.4% of traders are net-long GBP/USD with the ratio of traders short to long at 1.11 to 1. In fact, traders have remained net-short since June 23 when GBP/USD traded near 1.2673; price has moved 1.4% higher since then. The percentage of traders net-long is now its highest since June 26 when GBPUSD traded near 1.27188. The number of traders net-long is 6.0% higher than yesterday and 15.8% higher from last week, while the number of traders net-short is 12.4% lower than yesterday and 21.2% lower from last week.

--- Written by David Song, Currency Analyst

To contact David, e-mail Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.