{"id":4565,"date":"2018-05-15T00:00:00","date_gmt":"2018-05-15T04:00:00","guid":{"rendered":"https:\/\/currencylive.com\/100474-gbp-usd-uk-employment-boost\/"},"modified":"2018-05-15T00:00:00","modified_gmt":"2018-05-15T04:00:00","slug":"100474-gbp-usd-uk-employment-boost","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/100474-gbp-usd-uk-employment-boost\/","title":{"rendered":"GBP\/USD: Will UK Employment Data Boost Pound vs. Dollar?"},"content":{"rendered":"<p>A strong start in the previous session saw the pound US dollar exchange rate climb to a peak of US$1.3608. The exchange rate then gave up some of the gains as the dollar strengthened across the later part of the session.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th>What do these figures mean? <\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>\n<p> When measuring the value of a pair of currencies, one set equals 1 unit and the other shows the current equivalent. As the market moves, the amount will vary from minute to minute. <\/p>\n<p> For example, it could be written: <em>1 GBP = 1.28934 USD<\/em> <\/p>\n<p> <em>Here, \u00a31 is equivalent to approximately $1.29. This specifically measures the pound\u2019s worth against the dollar. If the US dollar amount increases in this pairing, it\u2019s positive for the pound.<\/em> <\/p>\n<p> Or, if you were looking at it the other way around: <em>1 USD = 0.77786 GBP<\/em> <\/p>\n<p> <em>In this example, $1 is equivalent to approximately \u00a30.78. This measures the US dollar\u2019s worth versus the British pound. If the sterling number gets larger, it\u2019s good news for the dollar.<\/em> <\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table class=\"table table-bordered\">\n<p>Pound traders are looking ahead to today\u2019s employment data; however, it comes to a backdrop of disappointing UK data. For the past month the pound has been struggling thanks to a streak of poor data, including a weak <a href=\"https:\/\/transferwise.com\/gb\/blog\/gross-domestic-product-meaning\">Gross Domestic Product (GDP)<\/a> reading. This wiped away any remaining optimism surrounding a Spring rate hike from the Bank of England (BoE). This was then confirmed by the BoE which voted to keep rates on hold, until they have further data. This will then allow the central bank to assess whether the recent economic soft patch is just temporary or something more structural.<\/p>\n<p>Today investors will be looking for some slightly more encouraging data from the UK labour market report. Analysts are expecting UK unemployment to remain constant at multi decade lows of 4.2%. Average earnings will be the central focus and is the figure that the Bank of England will look most closely at. Analysts are expecting average wages to have increased by 2.9% in the three months to March, up from 2.8% the previous month. Given that inflation was at 2.5% in March, a print of 2.9% for wages growth will mean wages are growing faster than prices rising. This would point to an easing of pressure on the UK consumer\u2019s income, which would be good news for the UK economy. This could help the BoE consider hiking rates later this year.<\/p>\n<table class=\"table table-bordered\">\n<thead>\n<tr>\n<th>How does strong jobs data boost the currency? <\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>It works like this, when there is low unemployment and high job creation, the demand for workers increases. As demand for workers goes up, wages for those workers also go up. Which means the workers are now taking home more money to spend on cars, houses or in the shops. As a result, demand for goods and services also increase, pushing the prices of the good and services higher. That\u2019s also known as inflation. When inflation moves higher, central banks are more likely to raise interest rates, which then pushes the worth of the currency higher. <\/td>\n<\/tr>\n<\/tbody>\n<\/table class=\"table table-bordered\">\n<h2><a href=\"#will-us-retail-sales-increase-rate-hike-expectations-\" name=\"will-us-retail-sales-increase-rate-hike-expectations-\"><\/a>Will US Retail Sales Increase Rate Hike Expectations?<\/h2>\n<p>Demand for the dollar was weak at the beginning of the previous session. Despite no high impacting data, the dollar staged a reversal, making back some of the earlier losses. Today investors will be looking to US retail sales. After a slightly disappointing inflation reading last week, dollar traders will be hoping that retail sales numbers will do a better job of increasing rate hike expectations. Analyst are forecasting that retail sales will increase by 0.3% month on month in April, slightly less that the 0.6% the previous month. A stronger reading today could help lift the dollar higher.<\/p>\n<table class=\"table table-bordered\">\n<tbody>\n<tr>\n<td>\n<p><small><em><br \/>\nThis publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Inc., Currency Live or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date. Consult our <a href=\"https:\/\/currencylive.com\/risk-warning\/\">risk warning<\/a> page for more details.<\/em><\/small><\/p>\n<p><small><em>This article was initially published on TransferWise.com from the same author. The content at Currency Live is the sole opinion of the authors and in no way reflects the views of TransferWise Inc.<\/em><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A strong start in the previous session saw the pound US dollar exchange rate climb to a peak of US$1.3608. The exchange rate then gave up some of the gains as the dollar strengthened across the later part of the session. What do these figures mean? When measuring the value of a pair of currencies, [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4566,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1381],"tags":[1394,1398],"class_list":["post-4565","post","type-post","status-publish","format-standard","has-post-thumbnail","category-gbp","category-usd","tag-gbp","tag-usd"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/USD: Will UK Employment Data Boost Pound vs. Dollar? - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/100474-gbp-usd-uk-employment-boost\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100474-gbp-usd-uk-employment-boost\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100474-gbp-usd-uk-employment-boost\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"GBP\\\/USD: Will UK Employment Data Boost Pound vs. Dollar?\",\"datePublished\":\"2018-05-15T04:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100474-gbp-usd-uk-employment-boost\\\/\"},\"wordCount\":765,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100474-gbp-usd-uk-employment-boost\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100474-gbp-usd-uk-employment-boost.jpg\",\"keywords\":[\"gbp\",\"usd\"],\"articleSection\":[\"GBP\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100474-gbp-usd-uk-employment-boost\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/100474-gbp-usd-uk-employment-boost\\\/\",\"name\":\"GBP\\\/USD: Will UK Employment Data Boost Pound vs. Dollar? 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