The demand for the Pound is not over. Overview for 13.09.2017

13.09.2017

The GBP/USD keeps rising on Wednesday.

The British Pound continues growing against the USD on Wednesday. The current quote for the instrument is 1.3311.

The Pound is rising thanks to the statistics on the British inflation. The CPI expanded in August much faster than was expected. Investors took this report as a signal that the country’s economy wasn’t afraid of the current Brexit procedure and that the monetary policy of the Bank of England would remain quite soft for the market conditions.

Today’s statistics showed that the Unemployment Rate in the United Kingdom in July decreased from 4.4% to 4.3%, although it wasn’t expected to change at all. The Average Earnings added 2.1%, which is less than expected, but still okay in comparison with previous readings this year. The Claimant Count Change in August lost 2.8K, although it was expected to add 0.8K.

Thus, tendencies in the labor market confirm that the British economy is quite comfortable with the current conditions. Companies and enterprises continue offering jobs even despite the Brexit. Earlier, they were saying that the procedure of exiting the European Union would make the operations in the UK difficult for companies and investors. So far, it hasn’t been confirmed yet.

The Pound is waiting for the BoE meeting. It will take place tomorrow and may increase the market volatility.

 

RoboForex Analytical Department

 

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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