XTB | Jul 16, 2019 09:48
The latest employment figures have given mixed messages on the health of the UK labour market, with both jobless claims and wages rising. The main takeaway is the larger than expected rise in wages with the increase coming in at the fastest pace in over a decade.
Given that inflation for the same month, as measured by the CPI, rose by 2.0% the figures represent a sizeable increase in real wages for workers.
The currency has been in a persistent downtrend for the past couple of months with last week’s depreciation against the euro making it 10 consecutive weekly declines and the longest such run on record! What is worth noting about the drop is the slow and steady nature of it, with no real sharp moves just a persistent move lower. This reflects the lack of any new obvious negative catalysts and more shows the continued headwinds to the currency due to the ongoing political uncertainty.
Written By: XTB
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