Dear Trader Friends,
Someone once told me that London is a city, unlike any other. When I visited London, I understood the appeal of its architecture, bustling streets and energy of it. But I visited it during winter, so I didn't appreciate the rain and snow that came out of nowhere, and how the sun set so much earlier. At the end of the day, I think London is an acquired taste.
I thought about London as I read all the headline coming out of UK these days: The uncertainty of Brexit, the new restrictions. Rather gloomy to me, much like London's winter landscape.
But one of the nice things about London during winter is the Hyde Park Winter Wonderland - with lots of festive markets, rides, and yummy food.
And just like Hyde Park is a bright spark in a dreary weather, I was glad to read the below good news from the UK this week:
1) Nearly 129,000 job postings were published last week, according to the UK Recruitment and Employment Confederation.
2) This is the highest number since lockdown started.
3) UK’s GfK Consumer Confidence came in at -25 (Expected was -27 and prior was -17)
4) Emergency job scheme released by UK Finance Minister, Rishi Sunak – where wages of workers impacted by the pandemic will be topped up.
How was the GBP/USD pairing yesterday?
1) It reached a daily high of 1.2780
2) Aside from the generally positive date, the upside was also supported as the USD lost some steam.
May there be more bright lights on the horizon in this space...just like the Winter Wonderland of Hyde Park in gloomy surroundings. At the end of the day, that is what HOPE stands for.