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Rising inflation expectations in the UK

Rising inflation expectations in the UK | 11 October 2023

11 October 2023, GBP/USD

GBPUSD trading plan:

British employers cut their job vacancies for the first time in more than two-and-a-half years in September and reduced their hiring again, a recruiters' industry body said, adding to signs of a cooling in the labour market. In a set of data that the Bank of England will use as it judges whether it should resume raising interest rates or keep them on hold in November, the contraction in vacancies represented the first fall in demand for staff since February 2021, the Recruitment and Employment Confederation said. This trend suggests stability in the labour market, but how long will this stability last? For the Pound, this is a neutral signal as the economy still faces inflationary risks.

Investment idea: range 1.2229 - 1.2337.

David Johnson
Analyst of «FreshForex» company
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