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With the UK Parliament out on holiday, Brexit developments aren’t as likely. That being said, we’re still looking at a busy week for sterling.
There are several key bits of data coming out over the next few days, so we’ll be expecting some turbulence in the markets. For now, let’s focus on the employment change data that comes out tomorrow in the early trading session.
The claimant change number has a habit of moving the exchange rate, even though the BOE is not officially worried about the jobs situation in the UK. However, with most other central banks pushing the cut button quite aggressively, forex traders are on the lookout for signs that Britain might hop on the bandwagon. Or race off the cliff, depending on whom you talk to!
A weakening in the employment figures might be a reason for the BOE to start looking at easing measures.
What We Are Looking For
All the data...
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