WHEN ARE THE UK JOBS AND HOW COULD THEY AFFECT GBPUSD?

UK Jobs report overview

Early Tuesday, the UK’s Office for National Statistics (ONS) will release the February month Claimant Count figures together with the Unemployment Rate in the three months to January at 07:00 AM GMT.

Today’s UK employment data becomes more important for the GBP/USD pair traders considering the latest retreat among the Bank of England (BoE) hawks. That said, BoE policymaker Swati Dhingra warned against further interest rate increases. Also increasing the importance of today’s British jobs report is the worsening conditions of the labor strikes in London and hopes of more investment from the government within the new budget.

The UK job market report is expected to show that the Average Weekly Earnings, Including Bonuses, in the three months to January, eased to 5.7% YoY versus 5.9% prior while ex-bonuses, the wages are seen declining to 6.6% from 6.7% prior readings.

Further, the ILO Unemployment Rate is likely to increase to 3.8% versus 3.7% prior for the three months ending in January. It’s worth noting that the market consensus suggests the Claimant Count Change figures to arrive at -12.4K in February versus -12.9K prior with the Claimant Count Rate of 3.9% during the stated period.