بروزرسانی: 23 خرداد 1404
Pound Sterling turns fragile as labor market cools and wage momentum progresses
The Pound Sterling (GBP) struggles to defend its crucial support at 1.2500 after the release of a vulnerable labor market report for July. The GBP/USD pair remains under pressure on signs of increasing unemployment but persistent wage growth. Bank of England (BoE) policymakers are expected to face pressure from a stubborn inflation outlook due to strong wage growth and a bleak labor market outlook due to higher interest rates.
- Pound Sterling trades sideways despite weak labor market data.
- The UK shed jobs in the three months to July while wage growth remains high.
- The BoE may opt for another interest rate increase in September as UK inflation is the highest among G7 economies.
Pound Sterling strives to defend the psychological support of 1.2500 after a vulnerable labor market report. The Cable broadly trades sideways after recovering from the crucial support of 1.2460. The asset continues to trade near the 200-day Exponential Moving Average (EMA), which remains around 1.2500. While the short trend is bearish as the 20 and 50-day EMAs are downward-sloping, momentum oscillators portray strength in the bearish impulse.
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منبع: https://www.fxstreet.com/news/pound-sterling-holds-around-12500-despite-vulnerable-employment-data-202309120749
When inflation is above the Bank of England’s target it responds by raising interest rates, making it more expensive for people and businesses to access credit. This is positive for the Pound Sterling because higher interest rates make the UK a more attractive place for global investors to park their money. When inflation falls below target, it is a sign economic growth is slowing, and the BoE will consider lowering interest rates to cheapen credit in the hope businesses will borrow to invest in growth-generating projects – a negative for the Pound Sterling.