UK jobs wages data now out 14 June
- ave weekly earnings 3mth-year 2.1% vs 2.4% exp vs 2.3% down from 2.4%
- weekly earnings ex bonus 3mth-year 1.7% vs 2.0% exp vs 1.8% prev down from 2.1%
- claimant count rate 2.3% as prev
- employment change 109k vs 125k exp vs 122k prev
- unemployment rate 4.6% as exp/prev
Softer earnings sees GBPUSD back down to test 1.2750. A break through there should see a trip to 1.2730-35. EURGBP 0.8790 with offers/res at 0.880 in sight.
Part of the drop though is ONS revising wages data to improve methodology for earnings for small business which they admit creates downward impact.
Good two-way business this morning but I know what my preference still is.
Full ONS reports here
