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.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
Low
High
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
Bearish
Gold
Bullish
GBP/USD
Mixed
Low
High
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
USD/JPY
Bearish
More View more
Real Time News
  • Indices Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.39% France 40: 0.28% FTSE 100: 0.17% US 500: 0.00% Wall Street: -0.00% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/kTJthmEfjV
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Silver: 0.79% Gold: 0.49% Oil - US Crude: -0.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/piPjZBulsC
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in NZD/USD are at opposite extremes with 67.03%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/n7ndExFIaG
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/qg1uMXcmx8
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: US 500: 0.17% Germany 30: 0.08% France 40: 0.07% Wall Street: 0.04% FTSE 100: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/0M3Lwae8uH
  • The British Pound nudged higher over the week across the board and this pattern is expected to continue in the weeks ahead as traders watch the UK’s Covid-19 vaccination plan. Get your $GBP update from @nickcawley1 here: https://t.co/OvFP8Zzz5b https://t.co/2TSLOehS4M
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in NZD/USD are at opposite extremes with 66.83%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ElMUYZ7p9R
  • The rest of the New York trading session is absent major scheduled event risk with US markets closed for the Martin Luther King Jr holiday. There is always a risk of unscheduled developments
  • Commodities Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Silver: 0.50% Gold: 0.41% Oil - US Crude: -0.55% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/eXSdZgvVeB
  • Despite China's better-than-expected 6.5% 4Q GDP report, $USDCNH is still up on the day. There is strong external influence on this rate, but Dollar still exerts the greater pressure. If it breaks 6.50 and Biden keeps pressure on China trade, I'll be watching https://t.co/5W5tcfeTZ5
GBP/USD Pushes Higher On Upbeat Jobs Data as Unemployment Falls

GBP/USD Pushes Higher On Upbeat Jobs Data as Unemployment Falls

Oded Shimoni, Junior Currency Analyst

Talking Points:

- The UK unemployment rate fell to 5.0%, lowest since October 2005

- Core weekly earnings rose to 2.3% vs 2.0% expected

- GBP/USD pushed higher as the news hit the wires, but then stalled

Learn good trading habits with DailyFX’s “Traits of successful traders” series

The British Pound pushed higher versus other major currencies, but then stalled, after today's UK employment data printed upbeat figures. The Office for National Statistics (ONS) reported that the unemployment rate from February to April fell to 5.0% from the prior and expected reading of 5.1%. This marked the lowest rate since October 2005.

The UK added 55K jobs in the same time period, which was slightly below the expectation for 60K, but above the prior 44K print. The Jobless Claims figure beat expectations and signaled a drop of -0.4K, which was just slightly better than the expected call for no change. The prior reading was revised for the worse to 6.4K from the prior -2.4K print.

Wage figures showed that Core average weekly earnings (which excludes bonuses) rose to2.3% in the three months to April from the prior revised 2.2%, which was above the expected drop to 2.0%. Average weekly earnings including bonuses was unchanged at 2.0%, but was above the 1.7% expected print.

The figures came a day after the UK CPI figures missed expectations. In “normal” trading conditions, higher wages and lower unemployment readings could have been interpreted as contributing to inflation pressures, and thus to a more hawkish BoE outlook. With that being said, the market seems to focus on the upcoming EU Referendum, with the GBP/USD fluctuating aggressively on “Brexit” polls. Taking this into consideration might explain why a very upbeat jobs report saw only an initial push higher for British Pound versus other majors before stalling.

Meanwhile, the DailyFX Speculative Sentiment Index (SSI) is showing that about 63.5% of traders are long the GBP/USD at the time of writing. The SSI is a contrarian indicator, implying further weakness ahead for the pair.

You can find more info about the DailyFX SSI indicator here

GBPUSD 5-Minute Chart: June15, 2016

GBP/USD Pushes Higher On Upbeat Jobs Data as Unemployment Falls

--- Written by Oded Shimoni, Junior Currency Analyst for DailyFX.com

To contact Oded Shimoni, e-mail oshimoni@DailyFX.com

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

DISCLOSURES