GBP/USD: UK Average Earnings Index

Source: Dukascopy Bank SAs

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The British pound strengthened against the Greenback, following the UK Average Earnings Index data release. The GBP/USD currency pair gained 22 pips in 2m range, or 0.16%, to continue fluctuating in the 1.3256 area.

The Office for National Statistics released Average Earnings Index data that came out in line with expectation of 2.5%, but lower from previous period.

"The conclusion so far being that a no deal Brexit is increasingly likely as Theresa May's authority diminishes, which could lead to loser monetary policy to support a hard hit struggling post Brexit economy – understandably pound traders are selling out hard", said Fiona Cincotta, a senior market analyst at City Index.

Historical Data Table: UK Average Earnings Index 3m/y  Economic Calendar for 18.07.2018
           
Date 24.01.2018  21.02.2018  21.03.2018  17.04.2018  17.07.2018 Tentative German 30-y Bond Auction
Actual 2.50% 2.50% 2.80% 2.80% 2.50% 12:30 PM US Building Permits
Forecast 2.50% 2.50% 2.60% 3.00% 2.50% 12:30 PM US Housing Starts
           
Initial Reaction on Main Pairs SWFX Sentiment Indexes
           
  Open Price Close Price % Change   Longs Shorts
GBP/USD 1.32431 1.32565 0.10% GBP/USD 62.29% 37.71%
EUR/GBP 0.88522 0.88498 -0.03% EUR/GBP 28.46% 71.54%
GBP/CAD 1.73832 1.73987 0.09% GBP/CAD 50.91% 49.09%
GBP/JPY 148.818 148.973 0.10% GBP/JPY 43.62% 56.38%

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