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 3.0k in the three months to March, compared to a decrease of 11.3k booked in the three months to February.

The unemployment rate is expected to remain unchanged at 4.7% during the period. Average weekly earnings, including bonuses, in the three months to Feb are expected to show no change, steadying at 2.2% last. While ex-bonuses, the wages are expected to drop to 2.1% versus 2.3% 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 claimant count and wage price-growth numbers could provide much-needed impetus to cable, prompting the rate to finally take-out 1.25 barrier and beyond.

On the flip side, should the data disappoint, we could see the GBP/USD pair falling back towards 1.2450 levels.

Key notes

UK: Focus on labour market data - TDS

UK: Unemployment rate (3M average) expected to be unchanged at 4.7% for March – Danske Bank

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).