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Market Reports

9:42am, August 14th 2019

Solid UK jobs report fails to inspire sterling…

Yesterday morning saw a more than impressive jobs report from the United Kingdom. At a time when many are predicting doom and gloom and even recession, the snapshot of the labour market was a welcome distraction from all-things Brexit!

So, what did the report reveal? The positives: claimant account (individuals seeking benefit) = down, jobs created = up, average earnings = up. Negatives: unemployment rate = up (3.9% vs. 3.8 previous). Overwhelmingly, a positive report and one which should indicate that weakness in the economy is largely temporary and purely Brexit-driven. Just this morning it’s been revealed that Germany contracted 0.1% in Q2, something the European Central Bank will be taking very seriously. Most likely they will encourage the German government to turn on the taps of fiscal stimulus with the large surplus they have the luxury of possessing.

Today hosts another important report from the UK. This time it’s inflation that will be crossing the wires at 0930. With the last couple of months’ worth of significant GBP weakness will it have now filtered into prices?

Written by Viv Savani. 9:42am, August 14th 2019

The details expressed in this market report are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Cornhill International Payments limited accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.

Previous Reports

8:19am, August 13th 2019

All eyes on UK data as financial markets continue on volatile path…

View Report
9:06am, August 21st 2019

GBP jumps in quiet summer markets…

View Report
8:44am, August 23rd 2019

Sterling jumps on Brexit optimism, Jackson Hole Symposium in focus…

View Report


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