When are the UK jobs and how could they affect GBP/USD? By anilpanchal7 UnitedKingdom GBPUSD Employment Events RiskAppetite
Given the expectations of sustained rate hikes by the Bank of England , coupled with the latest testimony from BOE Governor Andrew Bailey confirming fears of inflation, today’s jobs report becomes crucial to recall the GBP/USD pair buyers. Also highlighting today’s employment numbers is the cable’s recent corrective pullback from a two-year low.
Further, the ILO Unemployment Rate is likely to remain intact for the three months ending in March. It’s worth noting that the Claimant Count Change figures are expected to improve to -38.8K versus -46.9K previous readouts.Readers can find FXStreet's proprietary deviation impact map of the event below. As observed the reaction is likely to remain confined around 20-pips in deviations up to + or -2, although in some cases, if notable enough, a deviation can fuel movements over 60-70 pips.
As a result, FXStreet’s Yohjay Elam said, “All in all, UK job figures may boost GBP/USD temporarily, but fail to trigger a more-pronounced upside turn for the currency pair.”
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