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After April GDP figures disappointed on Friday, there has been an increase in pessimism around the upcoming labor figures out of the UK.
Tomorrow’s data reflects the first whole month of shutdowns. This will, therefore, give us some insight into the scale of the COVID effect on the employment situation.
Expectations are for May’s figures to add to unemployment rolls even further.
At the end of last week, the pound found some weakness from a combination of a loss in risk sentiment in the markets and worse than expected economic numbers.
To make matters more complicated, the UK Brexit negotiation team came out to confirm the commitment to effectuate Brexit by year-end.
However, later today we might get some better news. We’re expecting both sides to hold a high-level meeting and usually, heads of state don’t get on a call until something has been ironed out.
What We Are Looking For
This time around, the ILO Unemployment Rate (rolling 3 months) is likely to be the ...
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