4 Things to Remember When Trading the U.K. Jobs Report (Oct)
Heads up, pound traders! The upcoming U.K. jobs release could be a major catalyst for forex price action mid-week so make sure you take note of these things to remember when trading the report.
1. Market expectations
For the month of October, analysts are expecting to see a 1.6K increase in claimants, lower than the previous month’s 4.6K gain. Keep in mind that the U.K. claimant count measures the change in the number of people filing for unemployment benefits so a higher number ain’t too good for the U.K. economy.
Forex market watchers are also on the lookout for a potential pickup in wages, as the average earnings index or the three-month rolling average of salary changes is projected to rise from 3.0% to 3.2% for the period ending in September. Since this data point reflects changes in the amount of moolah that folks are able to put in their pockets or spend on various purchases, a stronger than expected reading is generally seen as a plus for consumer spending and inflation.
2. U.K. employment trends
The U.K. claimant count change has been missing expectations for the past four out of five months, which suggests that there could be a pretty good chance for a downside surprise. In addition, jobs growth has actually been weakening since the start of the year.
Meanwhile, the unemployment rate or the percentage of the total work force that is unemployed and actively looking for work has been showing a steady pace of improvement. In fact, the unemployment rate fell to its lowest level in seven years at 5.4% in September.
3. Current bias on the pound
Thanks to the disappointing turn of events in last week’s Super Thursday, the market appears to have an overall bearish bias on the British pound. Recall that BOE policymakers admitted that their outlook has considerably weakened over the past months, prompting them to downgrade their growth forecasts and predict that it might take much longer before any tightening moves are made.
With that, forex traders might shrug off any strong jobs figures, thinking that these won’t be enough to convince the BOE to shift back to its previous hawkish stance. On the other hand, weaker than expected data could trigger another wave lower for pound pairs since this would support the BOE’s downbeat vibes.
4. GBP/USD reaction to previous releases
Based on my observations, Cable seems to have shown a pattern in its reaction to the U.K. jobs report. Price typically consolidates in a tight box during the Asian trading session before making a strong breakout in a particular direction and sustaining that move throughout the London session.
In the past two releases, GBP/USD had a bullish forex reaction to the release even if the actual claimant count change missed expectations. Traders appeared to focus more on the decline in the unemployment rate and the climb in the average earnings index instead.
Still, Cable managed to score roughly 150 pips in gains on both occasions, which suggests that this could be a good number to aim for when trying to hop in the immediate reaction to the report. Just make sure you practice proper risk management at all times!
Read more: http://www.babypips.com/blogs/piponomics/forex-uk-jobs-20151110.html#ixzz3r61rLAbC
Artikel Lainnya : belajar forex belajar forex pdf belajar forex untuk pemula belajar forex kaskus belajar forex gratis belajar forex download belajar forex terlengkap dengan teknik simple dan profit belajar forex online belajar forex pro belajar forex malang belajar forex pdf belajar forex untuk pemula belajar forex kaskus belajar forex trading belajar forex gratis belajar forex download belajar forex terlengkap dengan teknik simple dan profit belajar forex online belajar forex pro belajar forex malang belajar forex ala kang gun belajar forex ala kg belajar forex agea belajar forex android belajar forex ala kang gun forexindo belajar forex analisa fundamental belajar forex analisa belajar forex awal belajar forex advance belajar forex awam belajar forex bagi pemula belajar forex binary belajar forex bandung belajar forex blogspot belajar forex binary option belajar forex bahasa indonesia belajar forex berita fundamental belajar forex.biz belajar forex bersama belajar forex basic 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Heads up, pound traders! The upcoming U.K. jobs release could be a major catalyst for forex price action mid-week so make sure you take note of these things to remember when trading the report.
1. Market expectations
For the month of October, analysts are expecting to see a 1.6K increase in claimants, lower than the previous month’s 4.6K gain. Keep in mind that the U.K. claimant count measures the change in the number of people filing for unemployment benefits so a higher number ain’t too good for the U.K. economy.
Forex market watchers are also on the lookout for a potential pickup in wages, as the average earnings index or the three-month rolling average of salary changes is projected to rise from 3.0% to 3.2% for the period ending in September. Since this data point reflects changes in the amount of moolah that folks are able to put in their pockets or spend on various purchases, a stronger than expected reading is generally seen as a plus for consumer spending and inflation.
2. U.K. employment trends
The U.K. claimant count change has been missing expectations for the past four out of five months, which suggests that there could be a pretty good chance for a downside surprise. In addition, jobs growth has actually been weakening since the start of the year.
Meanwhile, the unemployment rate or the percentage of the total work force that is unemployed and actively looking for work has been showing a steady pace of improvement. In fact, the unemployment rate fell to its lowest level in seven years at 5.4% in September.
3. Current bias on the pound
Thanks to the disappointing turn of events in last week’s Super Thursday, the market appears to have an overall bearish bias on the British pound. Recall that BOE policymakers admitted that their outlook has considerably weakened over the past months, prompting them to downgrade their growth forecasts and predict that it might take much longer before any tightening moves are made.
With that, forex traders might shrug off any strong jobs figures, thinking that these won’t be enough to convince the BOE to shift back to its previous hawkish stance. On the other hand, weaker than expected data could trigger another wave lower for pound pairs since this would support the BOE’s downbeat vibes.
4. GBP/USD reaction to previous releases
Based on my observations, Cable seems to have shown a pattern in its reaction to the U.K. jobs report. Price typically consolidates in a tight box during the Asian trading session before making a strong breakout in a particular direction and sustaining that move throughout the London session.
In the past two releases, GBP/USD had a bullish forex reaction to the release even if the actual claimant count change missed expectations. Traders appeared to focus more on the decline in the unemployment rate and the climb in the average earnings index instead.
Still, Cable managed to score roughly 150 pips in gains on both occasions, which suggests that this could be a good number to aim for when trying to hop in the immediate reaction to the report. Just make sure you practice proper risk management at all times!
Read more: http://www.babypips.com/blogs/piponomics/forex-uk-jobs-20151110.html#ixzz3r61rLAbC
Artikel Lainnya : belajar forex belajar forex pdf belajar forex untuk pemula belajar forex kaskus belajar forex gratis belajar forex download belajar forex terlengkap dengan teknik simple dan profit belajar forex online belajar forex pro belajar forex malang belajar forex pdf belajar forex untuk pemula belajar forex kaskus belajar forex trading belajar forex gratis belajar forex download belajar forex terlengkap dengan teknik simple dan profit belajar forex online belajar forex pro belajar forex malang belajar forex ala kang gun belajar forex ala kg belajar forex agea belajar forex android belajar forex ala kang gun forexindo belajar forex analisa fundamental belajar forex analisa belajar forex awal belajar forex advance belajar forex awam belajar forex bagi pemula belajar forex binary belajar forex bandung belajar forex blogspot belajar forex binary option belajar forex bahasa indonesia belajar forex berita fundamental belajar forex.biz belajar forex bersama belajar forex basic belajar forex cepat belajar forex candlestick belajar forex cluster belajar forex cirebon belajar forex cilacap panduan belajar forex.com cara belajar forex.com f belajar forex.com download belajar forex.com cara belajar forex untuk pemula belajar forex download belajar forex dasar belajar forex dari nol belajar forex dengan modal minim belajar forex di binary.com belajar forex dengan metatrader 4 belajar forex dari awal belajar forex di surabaya belajar forex dari dasar belajar forex dalam bahasa indonesia belajar forex ebook belajar forex emas belajar forex etoro belajar forex efektif belajar forex exchange belajar forex exness belajar forex eur/usd belajar ea forex belajar easy forex belajar forex siembah belajar forex fbs belajar forex fibonacci belajar forex fundamental belajar forex factory belajar forex forum belajar forex free belajar forex filetype pdf belajar forex facebook belajar fibo forex belajar fractal forex belajar forex gratis belajar forex gratis instaforex belajar forex gainscope belajar forex gold belajar forex gratis di jakarta belajar forex gratis untuk pemula belajar forex gratis bahasa indonesia belajar forex gratis pemula belajar forex gain capital belajar grafik forex belajar forex halal belajar forex hunting fox belajar hedging forex belajar forex di hp harga belajar forex belajar forex indonesia belajar forex instaforex belajar forex indikator belajar forex ichimoku belajar forex islami belajar forex indonesia gratis belajar forex indo belajar forex index belajar forex islam belajar investasi forex belajar forex jogja belajar forex jakarta belajar forex jitu belajar forex johor belajar forex johor bahru belajar forex di jakarta belajar forex di jogja belajar trading forex jakarta belajar forex gratis di jakarta belajar forex murah di jakarta belajar forex kaskus belajar forex kg belajar forex kebumen belajar forex kecil belajar kalender forex belajar kendel forex belajar forex ala kg belajar forex ala kang gun belajar trading forex 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