GBP: GBP Reaction Shows Growing Sensitivity to Near-Term Growth
Feb-06 10:03
The response to that soft construction PMI print is extending here, with GBP/USD narrowing the gap with both 1.24 handle support and 1.2380, the Tuesday low. GBP/JPY and GBP/CAD possibly more eyecatching as they break to new weekly lows - opening support in GBP/JPY at 189.34, the mid-January low and S/T bear trigger.
- Interestingly, Construction PMI is not usually a market mover, even if it diverges from expectations - but this price action underpins how sensitive prices are becoming to growth and the near-term trajectory of the UK economy after last Autumn's budget (and ahead of the Spring fiscal statement...)
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Unemployment Rate Stable at 6.3%
Jan-07 10:01
The Eurozone unemployment rate for November printed in-line with consensus at 6.3% (SA), unchanged from October and therefore remaining at the series low.
Source: Eurostat
MNI: ITALY DEC FLASH HICP +0.1% M/M, +1.4% Y/Y
Jan-07 10:00
- MNI: ITALY DEC FLASH HICP +0.1% M/M, +1.4% Y/Y
MNI: EUROZONE NOV UNEMPLOYMENT RATE 6.3%
Jan-07 10:00
- MNI: EUROZONE NOV UNEMPLOYMENT RATE 6.3%
