The Pound decided to ignore the statistics. Overview for 15.11.2017

15.11.2017

On Wednesday morning, the GBP/USD pair was very volatile, but later in the afternoon the activity almost died down.

The British Pound is barely moving against the USD in the middle of the week, but this was not the case all through the day. The current quote for the instrument is 1.3164.

In the afternoon, the United Kingdom reported on the employment market. However, the impression made by these reports was quite mixed and didn’t result in any serious fluctuations on the market. The Unemployment Rate in September remained the same as before, 4.3%. The Average Earnings over the last three months increased by 2.2% against the expected reading of +2.1%. The Claimant Count Change expanded by 1.1K is September, which wasn’t good at all, because it was expected to increase by 2K after adding 2.6K the month before.

These numbers can be easily explained by seasonal factors, political tensions, and the Brexit negotiations. Everyone is trying to take advantage of everybody else and in this situation, the good thing is that the Claimant Count Change isn’t decreasing.

The Pound couldn’t benefit from the weak USD yesterday. Investors are still very careful – they are closely following British politicians, who seem to conspire against the country’s Prime Minister, Theresa May. And the Pound doesn’t like it.

 

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