The British monthly GDP is announced on Friday at 09:00 MT time.
Outlook for wage ascend in UK cools
Hopes for higher wage surge across the United Kingdom are going down, except from in several sectors of the labor market, which suffer from acute skill shortages, as a report issued on Monday by recruitment company Hays states.
Difficulties experienced faced by the vast majority of UK employers in hiring the right staff declined versus 2016, although still staying high, as follows from Hays' annual Global Skills Index.
Earlier this month the BoE stuck to its view that wage surge will revive over the next few years because it signaled that it was about to lift interest rates already in November. It’s going to be the first time rate hike for more than 10 years.
However, official data has demonstrated that annual wage surge stuck approximately 2% notwithstanding UK unemployment rate diving to its lowest value for more than four decades.
IT, engineering as well as cyber security suffered the most from a shortage of skilled employees.
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
The US unemployment claims are out on Thursday at 15:30 MT time.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.