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  • 🇯🇵 Core Inflation Rate YoY (AUG) Actual: 0.0% Expected: 0% Previous: -0.2% https://www.dailyfx.com/economic-calendar#2021-09-23
  • 🇯🇵 Inflation Rate Ex-Food and Energy YoY (AUG) Actual: -0.5% Previous: -0.6% https://www.dailyfx.com/economic-calendar#2021-09-23
  • 🇯🇵 Inflation Rate YoY (AUG) Actual: -0.4% Previous: -0.3% https://www.dailyfx.com/economic-calendar#2021-09-23
  • Gold remains higher despite positive Evergrande news out of China. Meanwhile, copper bulls are pushing prices upward as the potential for a housing crisis in China ebbs. Get your market update from @FxWestwater here:https://t.co/TK3MNntBdA https://t.co/T6CPbFLv9f
  • RT @FxWestwater: $AUDUSD, $AUDJPY Surge Despite Rising Treasury Yields, Looming Evergrande Risks Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/09/23/AUDUSD-AUDJPY-Surge-Despite-Rising-Treasury-Yields--Looming-Evergrande-Risks.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https://t.c…
  • Heads Up:🇯🇵 Core Inflation Rate YoY (AUG) due at 23:30 GMT (15min) Expected: 0% Previous: -0.2% https://www.dailyfx.com/economic-calendar#2021-09-23
  • Heads Up:🇯🇵 Inflation Rate Ex-Food and Energy YoY (AUG) due at 23:30 GMT (15min) Previous: -0.6% https://www.dailyfx.com/economic-calendar#2021-09-23
  • Heads Up:🇯🇵 Inflation Rate YoY (AUG) due at 23:30 GMT (15min) Previous: -0.3% https://www.dailyfx.com/economic-calendar#2021-09-23
  • 🇬🇧 Gfk Consumer Confidence (SEP) Actual: -13 Expected: -8 Previous: -8 https://www.dailyfx.com/economic-calendar#2021-09-23
  • Heads Up:🇬🇧 Gfk Consumer Confidence (SEP) due at 23:01 GMT (15min) Expected: -8 Previous: -8 https://www.dailyfx.com/economic-calendar#2021-09-23
GBP Boosted by Robust UK Jobs Data; Inflation, Brexit Loom | Webinar

GBP Boosted by Robust UK Jobs Data; Inflation, Brexit Loom | Webinar

Nick Cawley, Strategist

GBP Latest News and Analysis

  • UK jobs market continues to hit multi-decade unemployment lows.
  • Wages data shows price pressures are not yet visible.
  • Inflation data and Brexit vote will now steer GBP over the next two days.

The latest IG Client Sentiment Report shows that while retail remain long of GBPUSD – normally a contrarian negative signal – recent changes in net-long and net-short positions give GBPUSD a positive signal.

The latest UK jobs release showed the economy creating another 146,000 jobs 3m/3m in April while the unemployment rate remained at a multi-decade low of 4.2%. Even more encouraging, the claimant count turned negative 7,700 in May compared to a downwardly revised positive 28,200 (from 31,200) in April. UK wages edged a fraction lower with weekly average earnings falling to 2.5% and weekly average earnings ex-bonus down to 2.8%, both down by 0.1%.

Sterling trader’s attention will now turn to Tuesday’s UK inflation release at 08:30 GMT and the outcome of the House of Commons vote on the EU Withdrawal bill amendments. GBPUSD moved back above 1.3400 post-release but any further move higher will be tempered by upcoming data and Brexit talk.

We will be covering the UK Inflation Release Live from 08:15 GMT.

GBPUSD Four Hour Price Chart (May 10 - June 12, 2018)

GBP Boosted by Robust UK Jobs Data; Inflation, Brexit Loom | Webinar

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--- Written by Nick Cawley, Analyst

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

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