The Pound is supported by the statistics. Overview for 13.12.2017

On Wednesday afternoon, the GBP/USD pair is trading to the upside after several quite good reports on the British employment market.

The British Pound got stabilized and continues recovering against the USD on Wednesday. The current quote for the instrument is 1.3351.

Todays’ statistical reports were mixed, but still quite positive. Well, first things first. The Unemployment Rate remained unchanged in October at 4.3%, the same as the month before, although investors expected it to decrease up to 4.2%. The good news was the Average Earnings incl. Bonus, which expanded up to 2.5% after being 2.3% earlier. Today’s number is the best this year.

The Claimant Count Change in the United Kingdom added 5.9K in November after expanding by 6.5K the month before and against the expected reading of 3.3K. However, it’s the details that are important. The number of employed people reduced due to the decrease of employed younger people. Apart from this, a lot of people quit their summer jobs and didn’t find new ones.

Tomorrow will be an important day for the Pound as another meeting of the Bank of England is scheduled to take place. The benchmark rate isn’t expected to change, but as usual, investors are waiting for comments.

RoboForex Analytical Department