Sterling Trades Slightly Higher Ahead of U.K.’s Jobless Claims Data, 30+ PIP Volatility Likely in GBP Parity; June 14, 2022
U.K. Claimant Count Change & Unemployment Rate
Today U.K. has scheduled to release Jobless Claims data at 0600 GMT/1130 IST. It’s the first indication of the employment situation, released a month earlier than the Unemployment Rate. Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country’s monetary policy.
Let’s see how GBP has reacted during the previous data release:
- The sterling trades marginally higher on Tuesday and remains well supported above $1.2150 mark.
- Today pair made intraday high at $1.2164 and low at $1.2121 mark.
- A day chart and H1 chart with triple EMA suggest bearish trend for the time being.
- A sustained close above $1.2200 on H1 chart will check key resistances.
- Alternatively, a consistent close below $1.2125 will check further supports.
Take a look and do trade wisely!