Labour market report indicates growth

Yesterday’s markets

24th January 2018

  • GBP - Average Earnings Index 3m/y
  • USD - Crude Oil Inventories
  • NZD - CPI q/q

The UK average earning index posted as expected at 2.5%, registering below the inflation level. However the version of the figure which excludes bonuses, beat expectations, posting 2.4%. Unemployment remains at a 42 year low figure, of 4.3%, down from 4.8% a year earlier. The Labour market report showed the 32.21 million people were in work, up 415,000 from a year earlier. The slightly bullish readings provided the sterling with a little boost again its major counter-parties.

Today’s markets

23rd January 2018

  • EUR - Minimum Bid Rate
  • CAD - Core Retail Sales m/m
  • EUR - ECB Press Conference

The Eurozone flash services PMI beat expectations registering at 57.6, whilst the manufacturing PMI posted slightly worse than expected at 59.6. However, the figures both showed the sectors are continuing to expand. Germany, the largest economy within the Eurozone, also posted bullish readings for their individual versions of the figures. The report showed the sectors have an optimistic outlook despite the political uncertainty within Germany. The figures provided the Euro with further support.