GBP/USD DRIFTING HIGHER IN THIN MONDAY ACTION AS INVESTORS AWAIT KEY DATA
- The GBP/USD is seeing some minor lift ahead of Tuesday's bumper data reading.
- An easy Monday to give way to a bumper economic calendar data docket.
- UK wages & labor, US CPI in the barrel.
The GBP/USD climbed to a Monday high near 1.2280 as markets jockey for position ahead of Tuesday's bumper data prints, with UK wages and labor data hitting markets in the early London session before US Consumer Price Index (CPI) inflation figures drop on investors in the mid-day.
UK Average Earnings (excluding bonuses) for the 3rd quarter is expected to moderate, with the forecast expected to tick down from 7.8% to 7.7%; meanwhile, earnings with bonuses factored in is expected to accelerate towards the low end, forecast to drop from 8.1% to 7.4%.
Investors will be hoping for improvement (or at least a lack of downside) in UK Employment and Claimant Count figures. The UK last saw the labor landscape contract in September, showing a 82 thousand job decline in employed persons, while unemployment benefits seekers increased by almost 20.5 thousand.
US CPI Preview: Forecasts from seven major banks, still to the high side of the Fed’s target
US CPI inflation is broadly expected to hold steady at the annualized level with slight declines in the month-on-month figures. Headline US CPI for the year into October is expected to decline from 3.7% to 3.3%.
Monthly CPI inflation is expected to print at a moderate 0.1% in October compared to September's 0.4%
- The GBP/USD is seeing some minor lift ahead of Tuesday's bumper data reading.
- An easy Monday to give way to a bumper economic calendar data docket.
- UK wages & labor, US CPI in the barrel.
The GBP/USD climbed to a Monday high near 1.2280 as markets jockey for position ahead of Tuesday's bumper data prints, with UK wages and labor data hitting markets in the early London session before US Consumer Price Index (CPI) inflation figures drop on investors in the mid-day.
UK Average Earnings (excluding bonuses) for the 3rd quarter is expected to moderate, with the forecast expected to tick down from 7.8% to 7.7%; meanwhile, earnings with bonuses factored in is expected to accelerate towards the low end, forecast to drop from 8.1% to 7.4%.
Investors will be hoping for improvement (or at least a lack of downside) in UK Employment and Claimant Count figures. The UK last saw the labor landscape contract in September, showing a 82 thousand job decline in employed persons, while unemployment benefits seekers increased by almost 20.5 thousand.
US CPI Preview: Forecasts from seven major banks, still to the high side of the Fed’s target
US CPI inflation is broadly expected to hold steady at the annualized level with slight declines in the month-on-month figures. Headline US CPI for the year into October is expected to decline from 3.7% to 3.3%.
Monthly CPI inflation is expected to print at a moderate 0.1% in October compared to September's 0.4%
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