The Pound is reaching stability. Overview for 13.11.2018
On Tuesday, GBPUSD is trying to reach stability; investors are looking for positive news.
The British Pound stopped falling against the USD on Tuesday and right now is trying to teach stability. The current quote for the instrument is 1.2921.
However, today’s numbers were rather mixed. The Unemployment Rate increased up to 4.1% in September after being 4.0% in the previous months. The Average Earnings Index expanded by 3.0% 3m/y, which is better than the previous reading of +2.8% 3m/y. The Claimant Count Change was 20.2K in October after being 18.5K in September and against the expected reading of 4.3K.
The Unemployment Rate report says that the total number of unemployed people increased from July to September, but the number people aged from 16 to 64 years, who were economically inactive, changed insignificantly compared with April to June 2018.
Yesterday, the European Chief Negotiator for the United Kingdom Exiting the European Union Michel Barnier said that the Brexit agreements were pretty much defined. According to his words, the talks were still active, the final draft hadn’t been agreed on yet, but there was some marked progress. The Irish border issue hasn’t been finalized yet, which is a very important and controversial point.
It is known that both parties are ready to present key nuances of the Brexit. For the British Pound is a strong driver for movement.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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