Wages rise at 3.1% a...from AlphaSam

Wages rise at 3.1% and inflation only 2.1% 🙂? good news from the UK readings this morning. low unemployment also looks as though companies are replacing their long term capital investments with short term hiring. Lets see how this plays out once Brexit becomes clearer and they can either cut and run, or stay and invest.

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ECB today @ 12.45 (UK time) following the on-target GDP numbers and strong German factory orders. How will Draghi address the mounting economic pressures given the tendency for central banks to hold/cut rates? Interesting day ahead.

AlphaSam

UK services PMI holds on 51 vs 50.6 expected. Still technically in expansion but sitting at long term low levels. When we consider this with the contracting industrial and construction PMI's from Monday/Tuesday we are back in slowdown territory! However, lets be honest... ££ has more problems these days.

AlphaSam