Daily Update - 23rd January 2019
Cable gained extra ground following the publication of the monthly report on the UK labour market. In fact, Claimant Count Change rose by 20.8K in December, the key Average Earnings including Bonus rose 3.4% in November and the jobless rate ticked lower to 4.0% during the same period. The main market mover was the IMF, that cut growth forecasts for the European and Chinese economies, and note that trade conflicts may cause further cuts in forecasts. Among the important published data, the relatively good performance showed UK labor market, which helped the British pound to turn to mid-day growth and counter the overall negative sentiments on the global markets BoJ Interest Rate Decision is announced by the Bank of Japan. Generally, if the BoJ is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the JPY. The Retail Sales released by the Statistics Canada is a monthly data that shows all goods sold by retailers based on a sampling of retail stores of different types and sizes. The retail sales index is often taken as an indicator of consumer confidence. Yesterday’s Market
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