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Pound falls under the onslaught of the dollar


On Tuesday, the UK employment indicators came mixed, which already supported the pessimistic mood of investors regarding the future prospects of work. The number of applications for unemployment benefits for April was 31.2 thousand against the forecast of 13.3 thousand. The previous indicator for March was revised for decline from 11.6 thousand to 15.7 thousand. Nevertheless, the number of jobs for the last 3 months increased by 197 thousand against expectations of 129 thousand. There is weakening and wage growth, taking into account premiums, growth slowed to 2.6% y / y against expectations of 2.7% y / y and 2.8% y / y in February .

The release of US retail sales data strengthened the pound's decline. Base sales (excluding cars) added 0.3% in April, the March volume was revised up to 0.4% from 0.2%. Total sales increased by 0.3%, with the revision of the previous indicator to 0.8% from 0.6%. As a result, the British pound declined by 51 points.

Today, data on the UK will not come out, investors will wait for US indicators for construction and industrial production. The volume of industrial production (Industrial Production) for April is expected to grow by 0.5%, the capacity utilization factor may increase from 78.0% to 78.4%. The number of housing permits for new homes in April is projected at 1.33 million versus 1.32 million in March.

In the coming days, we are waiting for the pound sterling at 1.3330.


The material has been provided by InstaForex Company -