{"id":34764,"date":"2022-09-13T07:45:00","date_gmt":"2022-09-13T06:45:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=34764"},"modified":"2022-09-15T23:17:28","modified_gmt":"2022-09-15T22:17:28","slug":"morning-brief-pound-higher-after-jobs-data","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/morning-brief-pound-higher-after-jobs-data\/","title":{"rendered":"Morning Brief – Pound Higher After Jobs Data"},"content":{"rendered":"\t\t
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The British pound has moved higher against the US dollar and the euro currency this morning, following the release of solid jobs data and a decline in the unemployment rate.<\/p>

Markets are generally very cautious ahead of the US CPI report, however, the GBPUSD pair has caught a notable price bid and is back trading above the 1.1700 level.<\/p>

The GBPUSD<\/a> pair has strong upcoming resistance around the 1.1850 level if the rally continues, while the EURGBP<\/a> pair has strong support around the 0.8640 area.<\/p>

Looking at the details of the UK jobs report, firstly, the jobless rate declined to 3.6%, which was a positive point to take note of as the UK economy has struggled this year amidst COVID-19 and rising inflation.<\/p>

Payroll employees for August showed a monthly increase, up 71,000 from July to a record 29.7 million, however, total hours worked is seen dropping in the three months to July by 3.5 million hours to 1.04 billion hours.<\/p>

Meanwhile, pay growth continues to come in strong but has been declining in real terms and that says a lot about the current situation with inflation continues to harm the UK economy.<\/p>

Breaking down the number today from the UK jobs report the prior months reading of 73,000 was revised upwards to 77,000, while the July ILO unemployment rate 3.6% vs 3.8% expected.<\/p>

The July Employment change for the United Kingdom economy was 40,000 vs 128,000 expected by economists. For the record the prior reading was 160,000.<\/p>

On the UK Wage situation, the July average weekly earnings were +5.5% vs +5.4%. July average weekly earnings (ex-bonus) +5.2% vs +5.0%. The previous was +4.7%.<\/p>

In terms of UK stocks, the FTSE100<\/a> is slightly higher today and is currently on course for a fourth day of days following its spectacular reversal since last Thursday.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The British pound has moved higher against the US dollar and the euro currency this morning, following the release of solid jobs data and a decline in the unemployment rate. Markets are generally very cautious ahead of the US CPI report, however, the GBPUSD pair has caught a notable price bid and is back trading […]<\/p>\n","protected":false},"author":4,"featured_media":19700,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[24,57,20,715],"yoast_head":"\nMorning Brief - Pound Higher After Jobs Data - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/morning-brief-pound-higher-after-jobs-data\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morning Brief - Pound Higher After Jobs Data Morning Brief - Pound Higher After Jobs Data\" \/>\n<meta property=\"og:description\" content=\"The British pound has moved higher against the US dollar and the euro currency this morning, following the release of solid jobs data and a decline in the unemployment rate.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/morning-brief-pound-higher-after-jobs-data\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-13T06:45:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-15T22:17:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/12\/GettyImages-1276777948_1.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"479\" \/>\n\t<meta property=\"og:image:height\" content=\"316\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Morning Brief - 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