The Pound managed to reach stability. Overview for 12.10.2021

GBPUSD stopped falling after the United Kingdom reported on employment. 

The British Pound stopped falling against the USD on Tuesday – right now, it is increasing a little bit. The current quote for the instrument is 1.3603.

According to the data published today, the Unemployment Rate in the United Kingdom dropped to 4.5% in Augustб the same as expected, after being 4.6% the month before. The Average Earnings Index was 7.2% 3m/y after adding 8.3% 3m/y in the previous three months. 

The Claimant Count Change in September was -51.1K after being -58.6K in August. It’s a bit worse than expected, -60.5K, but still quite good.

The statistics have a positive moment – the labour market is getting better as a lot of companies are returning to their normal operations after COVID-related social restrictions. 

Another report, the BRC Retail Sales Monitor, showed -0.6% y/y in September after being 1.5% y/y the month before and against the expected reading of 1.3% y/y, and that’s pretty bad news. The only thing that may cheer investors is that the report is published by the British Retail Consortium, a private organization, not an official government institution.