From TradingView · · 50s
Pound Weakens as UK Data Shows Slowing Jobs
UK labor data signals weaker pound ahead of BoE decision
In brief
UK labor data signals weaker pound ahead of BoE decision Slowing wage growth and job vacancies reduce BoE rate hike chances Originally reported by TradingView.
UK labor data weakens pound
Wage growth excluding bonuses slowed to 3.5%, job vacancies fell to 702 thousand, and employment on payrolls decreased in August.
“Wage growth excluding bonuses slowed to 3.5 percent, job vacancies fell to 702 thousand, and employment on payrolls decreased in August.”
August inflation data expected
The market awaits UK inflation data for August, with consensus expecting headline inflation to accelerate to 3.1%.
BoE rate decision approaching
The Bank of England's decision is expected on Thursday, with rates likely to remain unchanged.
Oil prices create double risk
Expensive oil intensifies price pressures while increasing costs for businesses and households.
Dollar maintains strength
The dollar retains its advantage ahead of the Fed's decision amid high US bond yields.
What to remember
Slowing wage growth and job vacancies reduce BoE rate hike chances
