Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
British pound ascends after UK jobs
On Wednesday, the British pound went up to the day’s maximums versus the greenback after the latest British jobs report demonstrated that the unemployment rate went down to its lowest value since 1975 while wage surge tacked on.
The currency pair GBP/USD hit a peak of 1.2904.
The unemployment rate for the three months to June went down to 4.4%, as the Office for National Statistics informed, versus forecasts for it to stay intact at 4.5%.
Average weekly earnings inched up by 2.1% year on year for the three months to June, which is better than economists forecast for a leap of 1.8% as well as a jump from 1.9% for the three months to May.
Additionally, excluding bonuses, earnings grew by 2.1%, moderately better than predictions of 2%.
The report arose just a day after figures demonstrating that the annual rate of inflation in Great Britain suddenly stood intact at 2.6% in July.
With inflation still outstripping wage ascend households are still experiencing a squeeze on living standards.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.