FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Labour market data due at 7:00BST

UK DATA
  • UK labour market data is due this morning at 7:00BST with the most focus likely to be on average weekly earnings.
  • For headline earnings, the Bloomberg consensus looks for a 5.8%3m-Y/Y print with a positive skew (down marginally from 5.9% previously) while for the ex-bonus number most analysts look for either 6.7% or 6.8%3-Y/Y (up a little from 6.6% previously).
  • Markets are currently pricing around 21bp for the June MPC meeting and a cumulative peak of 45bp by the September meeting with the first cut fully priced by March 2024.
  • We think that based on today's data there are two way risks to both GBP and STIR markets. As has been the case with many UK data releases recently, we think that the initial FX move on the release of the data at 7:00BST could be exacerbated at 7:30BST when UK STIR markets open.
HomepageBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.