FXStreet (Guatemala) – Analysts at TD Securities noted the key events taking place for the UK in the week ahead.
Key Quotes:
“September Labour Report (11 Nov): We see balanced risks around the unemployment rate, and it should hold stable in September with both TD and consensus expecting a reading of 5.4%. The unemployment rate has been on a steady decline in recent months, and we anticipate some pause before further declines towards the end of the year. Annual private-sector regular pay growth also likely pulled back a little in September, and we expect a the reading to dip down to around 3%.
2. September Construction (13 Nov): We expect a strong showing from UK construction in September, rising 1.5% m/m (consensus: 1.2%). The PMI Construction rose to a very high level in September, and house price growth has remained strong in recent months, supporting activity.
3. October BRC Same-Store Sales (10 Nov): It’s a very quiet week for UK data, so with not much to take guidance on, we’ll have a quick look at the BRC same-store sales for October to gauge the health of consumer spending. Given general weakness in inflation, the number is likely to remain relatively subdued, falling from its 2.6% y/y reading in September to something just below 2%.”
GBP/USD recent price action is turning back to the downside, post Nonfarm Payrolls.
(Market News Provided by FXstreet)