UK unemployment rate came in at 5% vs 4.9% exp. and 4.8% previously
- Unemployment change came in at 29k vs 20.3k exp. and 25.8k previously
Employment change (SA) came in at -32k vs 3k exp. and 1k previously
- Employment change 3M/3M came in at -22k vs 5k exp. and 91k previously
Average Weekly Earnings came in at 4.8% YoY vs 5% exp. and 5% previously (Ex-Bonus at 4.6% YoY vs 4.6% exp. and 4.7% previously)
GBPUSD
The GBPUSD pair reacted with the decline to much weaker than expected labour market data from the United Kingdom, signalling dovishly that much more monetary easing from BoE is definitely on the table.
Morning wrap (11.11.2025)
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