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GBP/USD Daily Forecast – 14 September

Wednesday, Sep 13 2017
GBP/USD Daily Forecast – 14 September

Focus of the yesterday's session was on UK job figures. The employment rate (the proportion of people aged from 16 to 64 who were in work) was 75.3%, the highest since comparable records began in 1971. There were 1.46 million unemployed people (people not in work but seeking and available to work), 75,000 fewer than for February to April 2017 and 175,000 fewer than for a year earlier. The unemployment rate (the proportion of those in work plus those unemployed, that were unemployed) was 4.3%, down from 4.9% for a year earlier and the lowest since 1975.

In the US session PPI data was published. The Producer Price Index for final demand advanced 0.2 percent in August, seasonally adjusted. The index for final demand less foods, energy, and trade services increased 0.2 percent in August following no change in July. For the 12 months ended in August, prices for final demand less foods, energy, and trade services rose 1.9 percent.

 

Focus of tomorrow's session will be on BoE's interest rate decision and meeting minutes will be released. No change in interest rates is expected. In the US session CPI and Unemployment Claims figures will be released. CPI is expected to grow by 0.3%, while Unemployment Claims should rise to 303,000.

 

Figures to watch:

 

Official Bank Rate/Monetary Policy Summary (Thursday 13:00)

CPI (Thursday 14:30)

Unemployment Claims (Thursday 14:30)

 

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