9 Jan 2015
GBP/USD supply taking pair back to mid 1.51 handle
FXStreet (Guatemala) - GBP/USD has been capped on the rebound from the 1.51 handle at 1.5171 and is set on 1.5140 at the time of writing.
GBP/USD been a choppy play on the 1.51 handle, with first, the European shift bringing UK data that arrived mixed with disappointments in Industrial Production and strong Manufacturing Production. However, the main event came in the Nonfarm Payroll results. The US jobs market continued into the end of the year and which numbers came in slightly better than expected at 252K vs a 240K consensus. There was also a substantial upward revision to the previous months’ data.
However, the mixed trade off came with the hourly earnings that arrived negatively in both headline (AHE) series at 1.7% y/y and on the older, non-supervisory series which fell from 2.2 to 1.6% y/y, as explained by Kit Jukes, head of foreign exchange research at Societe Generale.
GBP/USD been a choppy play on the 1.51 handle, with first, the European shift bringing UK data that arrived mixed with disappointments in Industrial Production and strong Manufacturing Production. However, the main event came in the Nonfarm Payroll results. The US jobs market continued into the end of the year and which numbers came in slightly better than expected at 252K vs a 240K consensus. There was also a substantial upward revision to the previous months’ data.
However, the mixed trade off came with the hourly earnings that arrived negatively in both headline (AHE) series at 1.7% y/y and on the older, non-supervisory series which fell from 2.2 to 1.6% y/y, as explained by Kit Jukes, head of foreign exchange research at Societe Generale.