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Labour market data softer across the board at first glance

UK DATA
  • Relative to the sellside previews that we have read that's a 0.2ppt downside surprise to private regular AWE and 0.1ppt downside surprise to total regular AWE.
  • The unemployment rate is 0.1ppt higher (but that is less important).
  • The overall tone here at first glance is that it's a softer report across the board, but we will need to look into more details to see how soft the report is.
  • GBPUSD fell around 15 pips on the release (which was a bit delayed) to an intraday low of 1.2801.
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  • Relative to the sellside previews that we have read that's a 0.2ppt downside surprise to private regular AWE and 0.1ppt downside surprise to total regular AWE.
  • The unemployment rate is 0.1ppt higher (but that is less important).
  • The overall tone here at first glance is that it's a softer report across the board, but we will need to look into more details to see how soft the report is.
  • GBPUSD fell around 15 pips on the release (which was a bit delayed) to an intraday low of 1.2801.