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. See our updated Privacy Policy here.



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
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
  • $USD straight shot up to that next level of resistance. 93.42 was the Q1 swing high. Next major level up is the 21 high at 93.73
  • Cryptocurrencies also conforming to the pullback in risk appetite - testing near term support at 3020 (El Salvador crash low) - 2890 = May 26/June 4th highs
  • $SPX futes starting the week on a down note testing support from the Aug 26th low. Fed is in a blackout window, announcement on Wednesday. $ES $SPY
  • ECB's Kazaks says inflation rise is hump-shaped and transitory $EUR
  • Join @MBForex at 8:30 EST/12:30 GMT for his weekly scalping webinar. Register here:
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min)
  • - It is the end date which signals that the conditions for an increase in policy rates are getting closer, the precise sequencing and timing will, of course, require careful guidance when the time has come $EUR
  • ECB's Schnabel - As the inflation outlook brightens, it becomes less important how much a central bank buys or when a reduction in pace of net asset purchases states, but rather when such purchases end $EUR
  • Join @CVecchioFX at 7:30 EST/11:30 GMT for a webinar on developing a strategy for major event risk. Register here:
  • When it comes to buying and selling forex, traders have unique styles and approaches. Learn about buying and selling forex here:
GBP/USD Climbs Higher on Strong Wage Data

GBP/USD Climbs Higher on Strong Wage Data

George Meng,

Talking Points:

  • UK Average Weekly Earnings (3M/YoY)(DEC) 2.1%, Expected 1.7%, prior 1.8%
  • BOE sees CPI to rise “fairly sharply” after oil effect fades
  • BOE voted 9-0 to keep interest rate at 0.5%, 9-0 to keep APF unchanged

UK economic data released today indicated a much stronger UK labor market recovery, and positive sentiment for Sterling bulls soared in response. UK Jobless Claims Change (JAN) was at -38.6K, better than the surveyed result of -25.0K as less people claimed unemployment benefits. Employment change (3M/3M)(DEC) was up more than double the 50K anticipated, to be 103K out of unemployment, and ILO Unemployment Rate (3M)(DEC) beat expectations at 5.7% compared to the forecast of 5.8%. Indicating a further strengthening of the labor market, Average Weekly Earnings (3M/YoY)(DEC) rose by 2.1%, much higher than economist expectations of 1.7%, signalling that prospects of a near term rate hike may be back on the table for the Bank of England.

The accelerating growth in wages and employment prompted the market to send the GBP/USD up by more than 60 pips, reaching for Monday’s high of 1.5439. This comes also in response to Band of England’s view that CPI will be rising “fairly sharply” after oil effect fades. The BOE minutes released today reveal members voted 9-0 to keep interest rate unchanged at 0.5%, also 9-0 to keep the BOE’s Asset Purchase Facility intact. The overwhelming positivity on the UK labor market and the BOE’s confidence in a sharp rebound on inflation levels shake off fears of prolonged stagnation in asset price growth, and sparks the hope that the UK may increase benchmark interest rates sooner rather than later.

The market will be looking ahead for the US Federal Reserve’s January FOMC meeting minutes at 19:00 GMT. The release should provide a further boost to market confidence to take on more risk, if the Fed’s tone is in line with consensual expectation of strong US economic growth that can justify a normalisation in monetary policy. But the market has yet to see just how much the Fed is factoring in the growing uncertainty for Greece, the effect of the ever strengthening US Dollar, and the possibility of a premature rate hike that could shut down the US's miracle recovery in its tracks.

GBP/USD (5 Min Chart) - Created using Marketscope 2.0

GBP/USD Climbs Higher on Strong Wage Data

Get Real-Time Feedback on Your Trades with DailyFX on Demand!

Written by George Meng, any comments, suggestions, or feedback please email

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