The Pound is ready to recover. Overview for 11.12.2018

GBPUSD is trading upwards on Tuesday after plummeting the day before.

The British Pound rebounded from its lows against the USD on Tuesday. The current quote for the instrument is 1.2620.

The voting in the British Parliament on the Brexit agreement with the European Union, which was scheduled for today, was cancelled and that was a serious stress for the Pound. Instead of this, Theresa May spoke to policymakers and once again outlined the prospect of making or not making a decision. The voting was cancelled because there were too many opposite-minded members of the Parliament and now they have more time to think about the issue.

It became known today that the Unemployment Rate in October remained at 4.1%, the same as before, but no one expected it to change. The Average Earnings Index added 3.3% 3m/y, which is better than the previous and expected numbers of 3.1% 3m/y and 3.0% 3m/y respectively.

The Claimant Count Change in the United Kingdom was 21.9K in November after being 20.2K in the previous month and against the expected reading of 13.2K. The reason might be a seasonal factor, but not the Brexit complications. 

So far, investors are responding to some of the published statistics, but the “hot potato” is still Theresa May and her “superpowers” to convince the opponents.