The unemployment rate held at 3.8% for the 3 months ending April, wages rose 3.1% and previous data was revised higher. “ The UK’s macro backdrop remains mixed and volatile, but some MPC members have broadcast a fairly hawkish message to investors this week. These voices may grow more vocal if growth rebounds. Strategically, sterling still has some difficult days ahead of it as political concerns dominate,” mentioned TDS analysts.
In the US, PPI numbers were mostly ignored by market participants. The greenback is posting mix results across the board as volatility in the fx market remains lows. The pair continues to move sideways, around 1.2700 that is also the 20-day moving average. To the upside, resistance levels might be located at 1.2745 , followed by 1.2765 and 1.2800.
On the flip side, support levels could be seen at 1.2705 , 1.2670 and 1.2650 . You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature.
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