logo |

News

    Home   >     Industry    >     Main body

    British Pound (GBP) Price Outlook: GBP/USD Benefiting From UK Jobs Data

    Abstract:GBP PRICE, NEWS AND ANALYSIS:
    •   GBP/USD is gaining ground after a strong set of UK labor-market figures that have again focused attention on the Bank of Englands policymakers and whether some will be persuaded that UK monetary policy should be tightened sooner than they previously expected.

    •   Job vacancies rose above one million for the first time since records began as the UK economy continues to recover from the Covid-19 pandemic, while payrolls rose by more than economists had predicted.

        

    gbp-usd-surged-on-strong-uk-retail-sales-pmi.jpg

    GBP/USD FIRMING FOR A SECOND SUCCESSIVE DAY

      GBP/USD is continuing to advance Tuesday after UK labor-market data that showed the number of vacancies in the three months to August above one million for the first time since records began, a lower unemployment rate and another monthly increase in August payrolls.

      At the margin, the numbers could persuade the hawks on the Bank of Englands monetary policy committee that monetary policy will need to be tightened sooner than they had previously expected. Note, though, that market pricing is not expecting a quarter-point UK rate rise until March 2022, with another in September 2022.

      Still, the economy will likely benefit from a return to the office by many UK employees and perhaps too from news that the UK is preparing to roll out Covid-19 booster shots. This is all positive for GBP/USD, although caution is called for ahead of Wednesday‘s UK inflation data, predicted to show an increase in the core rate in August to 2.9% year/year from July’s 1.8%.

    GBP/USD PRICE CHART, ONE-HOUR TIMEFRAME (SEPTEMBER 3-14, 2021)

      

    Latest

      

    DOWNLOAD

    New Zealand Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand

    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
    Current Rate  :
    --
    Amount
    New Zealand Dollar
    Available
    -- United States Dollar
    Risk Warning

    The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.

    Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.

    Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.

    Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.