Free Trial

GBP Extends Recovery on Favourable Jobs Data

FOREX
  • GBP trades stronger for a second session, extending the move seen off the back of the somewhat hawkish comments from BoE members including the governor Bailey in front of lawmakers yesterday. UK jobs data this morning showed that payrolled employment actually increased by around 160,000 across October, indicating that employment rose despite the conclusion of the UK government's COVID-era furlough scheme.
  • GBP/USD has traded back above the 1.3450 mark, although gains have faded somewhat ahead of the NY crossover. The USD Index has firmed, but trades just shy of the year-to-date highs printed Monday. The weakest currencies across G10 include NZD, SEK and CHF.
  • US retail sales and import/export price indices data crosses later today, with industrial production numbers following shortly afterwards.
  • Central bank speakers today include Fed's Bullard, Barkin, Bostic, George as well as Daly, while ECB's Lagarde and BoC's Schembri are also on the docket.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.