The Pound is correcting. Overview for 17.12.2019
On Tuesday, GBPUSD continues falling; investors are adjusting their positions.
The British Pound is retreating against the USD on Tuesday afternoon. The current quote for the instrument is 1.3199.
Today’s statistics showed that the Unemployment Rate in October remained the same as in the previous month, at 3.8%, although it was expected to increase up to 3.9%.
The Claimant Count Change was 28.8K in November after being 26.4K the month before. The forecasted reading was 21.2K, but the current increase may be caused by a seasonal factor or subеду expectations relating to the Brexit.
The Average Earnings Index in the United Kingdom added only 3.2% 3m/y after increasing 3.7% 3m/y over the previous three months. The reason is probably the same: businesses don’t see a positive economic outlook and prefer to save money.
After the Pound skyrocketed to its multi-month highs, it was quite logical to expect a correction, more so that today’s numbers aren’t very cheerful.
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