Follow the BOE monetary policy and rate statements on August 6 at 14:00 MT time…
British unemployment rate edges down to fresh 42-year minimum
In Great Britain, the jobless rate suddenly dipped in May. Meanwhile, real wages kept easing, stepping up the pressure on British families to make it to the end of the month considering the gap with inflation, as official data unveiled on Wednesday.
In May, the rate of unemployment went down to 4.5%, as the Office for National Statistics disclosed. It definitely surprised financial experts who had expected it to stay intact at a four-decade minimum of 4.6%.
In June, the claimant count tacked on by a seasonally adjusted 6,000, thus ruining hopes for a leap of 10,000 people and following a jump of 7,500 the previous month, whose outcome was revised from a previously reported ascend of 7,300.
The average earnings index with bonuses inched up by a seasonally adjusted 1.8% for the three months to May, which is in line with predictions but below last month’s revenue of 2.1%.
For the three months to May, excluding bonuses, wages gained 2%, compared to hopes for a 1.9% revenue and April’s outcome of 1.8%, which grew from the previous 1.7% leap.
The market has started the week with a mixed sentiment…
The US NFP will be published on August 7 at 15:30 MT time.
The market sentiment is indeed risk-on today. Stocks, riskier currencies and gold are rising amid the waning US dollar.