The Pound is climbing down. Overview for 21.04.2020
GBPUSD is retreating on Tuesday; the statistics from the United Kingdom were not impressive.
The British Pound remains weak against the USD. Still, market conditions aren’t getting any worse, and that’s good. The current quote for the instrument is 1.2415.
Earlier today, the United Kingdom reported on the labor market. The Unemployment Rate increased up to 4.0% in February after being 3.9% in January and against the same expected reading. The Average Earnings Index showed +2.8% 3m/y after being +3.1% 3m/y the month before.
The Claimant Count Change was 12.1K in March after showing 6K in the previous month and that’s a great signal. Despite rising, the indicator remained more or less stable – the UK labor market did not kill many jobs in the service industry.
The country continues living under quarantine restrictions, which significantly influence both economic activity and consumption. However, thanks to global support, which the United Kingdom is providing its businesses and population with, the country is doing a great job in dealing with difficulties so far.
On Wednesday, the United Kingdom will continue publishing the latest numbers, that’s why the Pound will surely have fundamental catalysts to respond to.
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