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UK Employment remains at 42 year low

  • GBP - CPI y/y: 3.0%
  • EUR - ECB President Draghi Speaks
  • GBP - BOE Gov Carney Speaks

UK Employment remained stable yesterday at the 42 year low at 4.3%, as the Average Earning Index beat expectations by posting 2.2%. However, the bullish figure is still below inflation, which posted 3% yesterday. Despite the bullish data, the labour market is showing shows of slowing, as the number of people in work fell for the first in a year. The figure showed a decline of 14,000 which is the biggest since June 2015, causing the Pound to decline.

  • USD - CPI m/m
  • USD - Core Retail Sales m/m
  • USD - Retail Sales m/m

Across the pond today, the US CPI figure posted as expected at 2%. The annual figure excluded food and fuel and rose for the first time since January, posting a bullish 1.8%. The inflation increase will help provide further support for a rate hike, which the markets are expecting from the Fed next month. Retail sales posted a bullish 0.2% compared to the expected 0%. However, Core Retail sales slightly missed expectation, posting 0.1%. The bullish US data was not enough to provide support to the tumbling Greenback.