What happened? On Monday, February 21, Russian President Vladimir Putin signed decrees recognizing the sovereignty of the Donetsk and Lugansk People's Republics…
British jobless rate heads south to new 43-year minimum
For the three months to June, UK unemployment rate slipped suddenly to a fresh 43-year minimum, while productivity tacked on. However, there was little upside for most employees because pay surge speeded down to its weakest value for nine months.
Besides this, the figures also disclosed the steepest annual dip in the number of EU staff members in the United Kingdom since 1997, proceeding with a trend observed since the 2016 Brexit vote.
Eventually, the figures illustrated a familiar picture of tightness in the UK labor market, with record high job vacancies unable to translate into firm wage surge.
Britain’s key financial institution had its interest rates raised for the second time since the financial meltdown earlier this month.
Aside from that, Tuesday's data also revealed that productivity in Great Britain inched up at its fastest annual rate since late 2016, while the number of employees whose key job was an insecure zero-hours contract slipped by the most since 2000, as the Office for National Statistics informed.
In the April-June period, the unemployment rate headed south to 4%, which is the lowest result since the three months to February of 1975, surpassing experts’ estimates for it to stay intact at a previous minimum of 4.2%.
The sag occurred notwithstanding a smaller-than-anticipated number of jobs generated over the three-month period, and of about 42,000 less than half the average estimate by experts in a Reuters survey.
Total annual wage surge speeded down to a nine-month minimum of 2.4%, which is below estimates for it to stay intact at 2.5%.
Without bonuses, pay surge was intact at 2.7%, which is below the 4% rate typical before the financial meltdown ten years ago.
In the April-June period, output per hour worked tacked on by about 1.5% year-on-year. It turns out to be the most impressive jump since late 2016 after this year’s 0.9% leap in the first quarter.
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
The Bank of England will announce its policy statement on December 16, Thursday, at 14:00 GMT+2 (MetaTrader time). It will affect all the pairs with the British pound.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.