Wednesday, March 19, 2014

Much higher than expected data

Sterling gained amid the higher than foretasted data released today, the main element was the unemployment figures. The unemployment claims declined by 34.6K, 11.3K larger than the forecasts. This figure was the largest in three months, and the third improvement result in a row. Other report showed 105K increase in the total quarterly average employment, but the annually adjusted unemployment rate remains at 7.2%. Annually adjusted growth in the average weekly earnings including bonuses was 1.4%, 0.9% higher than the previous release. The average earning excluding the bonuses was 0.7% higher than the report before reaching 1.3%. 
Offsetting yesterday’s drop, Cable gained 0.3% against the greenback reaching 1.6645, rising from 1.6595.

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