Forex: What the UK Unemployment Data Mean for GBP and FTSE
- The Pound eased back modestly after the latest UK employment data.
- Attention now turns to Brexit and the Bank of England’s rate decision Thursday.
- In this webinar, DailyFX Analyst and Editor Martin Essex looks at the prospects for the Pound and the FTSE before and after the data release.
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The UK labor market report released Wednesday does little to change expectations that the Bank of England will keep its key interest rate at 0.5% until well into the New Year and the Pound therefore eased marginally on the data.
For GBP traders, attention will now focus on the Brexit debate in the UK Parliament, where lawmakers are pressing for a meaningful vote on a final deal between the UK and the EU. Attention will also be on the Bank of England’s comments after its monetary policy announcement Thursday.
--- Written by Martin Essex, Analyst and Editor
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.