Positive macroeconomic statistics of the UK | 17 August 2021

17 August 2021, GBP/USD

Positive macroeconomic statistics of the UK

GBPUSD trading plan:

The quarterly survey by Britain's Chartered Institute of Personnel and Development added to signs of labour market shortages as the economy emerges from the coronavirus pandemic, though it offered less evidence of wage or inflation pressures. The CIPD said the net employment intentions balance - the difference in percentage points between employers who are hiring and those cutting staff - rose to +32 from +27 three months earlier, its highest since the survey began in early 2013. Only 13% of employers plan to make staff redundant, down from 33% a year ago when there were much greater fears that a premature end to government furlough support would create a spike in unemployment. Earlier this month the Bank of England forecast that the unemployment rate would not rise beyond its current 4.8%, much lower than the peak of around 7.5% it saw earlier.

Investment idea: buy 1.3789 and take profit 1.3851.

David Johnson
Analyst of «FreshForex» company
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