Economics
GBP/USD higher despite mixed UK job data
The British pound has headed higher this week, after sliding 3.6% last week. In the European session, the GBP/USD is trading at 1.2909, up 0.49% on the day. British jobless claims fall, but labour market remains weak British unemployment claims slipped to 73.7 thousand in August, down sharply from 94.4 thousand beforehand. This easily beat […]
The British pound has headed higher this week, after sliding 3.6% last week. In the European session, the GBP/USD is trading at 1.2909, up 0.49% on the day.
British jobless claims fall, but labour market remains weak
British unemployment claims slipped to 73.7 thousand in August, down sharply from 94.4 thousand beforehand. This easily beat the forecast of 99.5 thousand. Still, the employment situation remains fragile. The total amount of unemployed persons reached some 2.7 million in August, which was an increase of 120.8% since March. Wage growth continues to fall, as the July release came in at -1.0%. This marked a third straight decline in wages, pointing to ongoing weakness in the labor market. There was more bad news as the unemployment rate rose from 3.9% to 4.1%. This is the first time that unemployment has been above 4.0% since October 2018.
The UK releases inflation data on Wednesday, and the projections could mean a tough day ahead for the British pound. After a strong gain of 1.0% in CPI in July, the headline reading is expected to fall to just 0.1% in August. Core CPI posted a robust gain of 1.8% in July, but the index is expected to slow to 0.7% in August.
.
GBP/USD Technical
- 1.2916 is under strong pressure in resistance. Above, we find resistance at 1.2989
- The next support level is at 1.2772. This is followed by 1.2706, which is protecting the 1.27 level
De-Dollarization Accelerates, Launching Gold and Bitcoin Higher into a Massive Bull Cycle for Hard Money
It has been an interesting few weeks with U.S. banks collapsing and the Fed stepping in to rescue what would have likely been a contagion run on the banks…
Mooners and Shakers: Bitcoin back above $28k as altcoins Kaspa, Conflux and Algorand surge
Bitcoin has bounced back strongly above US$28k over the past 24 hours, while more than a few altcoins have taken … Read More
The post Mooners and Shakers:…
The SVB Collapse Caused Major Turbulence In Traditional Banking – Is FinTech Here to the Rescue?
The recent collapse of the Silicon Valley Bank has unraveled endless horror stories for the financial industry. The traditional banking sector felt the…
A Federal Reserve Pivot is not Bullish
3 Gold Stocks to Buy for Dividend Growth
Should You Buy Gold Amid Speculators Boosting Gold Long?
BoE Governor Admits UK Banking System Faces “Very Heightened Tension”
Peter Schiff: Bank Bailouts Will Devalue The Dollar
Banking Frailties Highlight The Importance Of Cashflow Considerations In The Supply Chain
De-Dollarization Accelerates, Launching Gold and Bitcoin Higher into a Massive Bull Cycle for Hard Money
Value Investor Comments On Silicon Valley Bank And Silvergate
De-Dollarization Just Got Real
FDIC Weighs Squeezing Big Banks To Plug $23 BIllion Hole From Small Bank Failure Costs
-
Companies23 hours agoP2 Gold Gabbs Update
-
Companies20 hours agoFive Gold Stocks to Purchase Amid Bank Failures
-
News Releases23 hours ago
Sandfire Resources America Announces Appointment of Chief Executive Officer and Chief Financial Officer
-
Precious Metals14 hours ago
De-Dollarization Just Got Real
-
Financing News10 hours agoCanterra Minerals Announces Private Placement
-
Companies16 hours agoLithium demand is projected to increase 500% by 2050
-
Energy & Critical Metals18 hours agoUS and Japan Sign Critical Minerals Trade Agreement
-
News Releases19 hours agoAbraSilver Reports Further High-Grade Results at the JAC Zone; 2,320 g/t Ag over 4.0 Metres and 233 g/t Ag over 45.5 Metres in Oxide Mineralization
