CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Muted market reaction to UK jobs data

09:52 19 February 2019

The most recent data on the UK labour market continues to be strong on the whole, with the unemployment rate remaining close to a multi-decade low with another decent monthly rise seen in real wages. The headline average earnings number was a little softer than expected in remaining at 3.4%, but the ex-bonus was inline with forecasts and on the whole it represents another solid reading. The data relates to December of last year so there is something of a lag, and the recent decline in industry surveys last month will not be seen until the release in March.

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The unemployment rate for the UK remains close to its lowest level in several decades while a rise in job vacancies (inverted axis in 000s) suggests plenty of opportunities for workers who have also benefited from another month of real wage growth.Source: XTB Macrobond   

 

Due to the lag in this data, it is often not the most market moving, and we’ve seen that this morning with pretty subdued reaction in sterling which has drifted back down near the $1.29 handle. Looking at the bigger picture the pound remains range bound and is seemingly awaiting further clarity on Brexit before embarking on a sustained move, and therefore economic data remains in the back-seat for now. The FTSE has made a soft start this morning for the second day in a row, and trades lower by around 35 points at the time of writing.

GBPUSD remains pretty range bound and not that far from where it traded before the “meaningful vote” on PM May’s deal last month. Price has recently bounced from the lower Bollinger band around 1.2775 while 1.3000 remains a possible level of interest above. Source: xStation     

 

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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