Sterling Weakens Ahead of U.K.’s Claimant Count Change Data, 30+ PIP Volatility Likely in GBP Parity; Jan 18, 2022
U.K. Claimant Count Change & Unemployment Rate
Today U.K. has scheduled to release Claimant Count Change data and unemployment rate results at 0700 GMT/1230 IST. It is 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 weakens in early Asian ahead of U.K. Job data and remains well supported below $1.3650 mark.
- Today pair made intraday high at $1.3661 and low at $1.3621 mark.
- A day chart is up and H1 chart with triple EMA suggests down trend for the time being.
- A sustained close above $1.3620 on H1 chart will check key resistances.
- Alternatively, a consistent close below $1.3620 will check further supports.
Take a look and do trade wisely!