Sterling higher after upbeat in job figures

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Wednesday, Feb 18 2015

Claimant Count Change figures showed that number of unemployed was down 38,600 from December 2014, beating market forecasts o decrease by 25,200, and also down 383,500 from a year earlier, but 44,600 higher than the pre-downturn trough of 778,400 for February 2008. The unemployment rate was 5.7%, lower than for July to September 2014 (6.0%) and lower than for a year earlier (7.2%). Analysts were anticipating no change from 5.8%.

Between October to December 2013 and October to December 2014, total pay for employees in Great Britain increased by 2.1%. Analysts were expecting smaller increase by 1.7%. This was the highest annual growth rate recorded since April to June 2013. Higher bonuses were recorded in December 2014 compared with December 2013 across a number of industries in the private sector, particularly finance and business services.

After the data Sterling was pushed higher and is currently being traded around 1.5420 level. Pair is likely to find support around 1.5350 and resistance above 1.5450 level. Later today, in the US session, Building Permits, Housing Starts and FOMC Meeting Minutes are scheduled for a release.

More in this category: « Aussie little changed in a steadier morning part of the session BoE sees raise in inflation in 2016 »

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