When is UK Jobs and how could affect GBP/USD?
UK Jobs report overview
The UK labor market report is expected to show that the number of people seeking jobless benefits decreased by 5.0k in the three months to February, compared to a decrease of 42.4k booked in the three months to January.
The unemployment rate is expected to remain unchanged at 4.8% during the period. Average weekly earnings, including bonuses, in the three months to Jan are expected to show decline to 2.4% versus 2.6% last. While ex-bonuses also the wages are expected to drop to 2.5 versus 2.6% previous.
Deviation impact on GBP/USD
Readers can find FX Street's proprietary deviation impact map of the event below. As observed the reaction is likely to remain confined between 20 and 60 pips in deviations up to 2 to -4, although in some cases, if notable enough, a deviation can fuel movements of up to 85 pips.
How could affect GBP/USD?
Upbeat clamant count and wage price-growth numbers could provide extra legs to the rebound in cable beyond 1.22 handle. On the flip side, should the data disappoint, we could see the GBP/USD pair drifting back towards 1.2150 levels.
However, the reaction to the data may remain limited, as the main marketing moving event for the major today is likely to the FOMC rates decision.
Key notes
UK: Labour market to show continued tightness in the unemployment rate - TDS
In view of the analysts at TDS, UK labour market statistics for the three months ending January are out and they expect them to show continued tightness in the unemployment rate at a decade-plus low of 4.8% (same as consensus).
About UK jobs
The Claimant Change released by the National Statistics presents the number of unemployment people in the UK. There is a tendency to influence the GBP volatility. Generally speaking, a rise in this indicator has negative implications for consumer spending which discourage economic growth. Generally, a high reading is seen as negative (or bearish) for the GBP, while a low reading is seen as positive (or bullish).