UK Unemployment Rate rises to 4.3% in three months to March as forecast
Source Fxstreet
- The Unemployment Rate in the UK edged higher to 4.3%.
- GBP/USD continues to trade in a tight range at around 1.2550.
The UK's Office for National Statistics reported on Tuesday that the ILO Unemployment Rate edged higher to 4.3% in the three months to March from 4.2%. This reading matched the market expectation.
Other details of the job report showed that the Claimant Count Change rose 8.9K, while the Employment Change was down 177K in April. Additionally, Average Earnings Excluding Bonus rose 6% (YoY) in the three months to March while Average Earnings Including Bonus were up 5.7% (YoY) in the same period.
Market reaction
These figures failed to trigger a noticeable reaction in GBP/USD and the pair was last seen trading virtually unchanged on the day slightly above 1.2550.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold (XAU/USD) retreats slightly after touching a fresh record high, around the $3,689-3,690 region during the Asian session on Tuesday, amid some repositioning trade ahead of key central bank events.
Bitcoin (BTC) could be poised for a price surge following its positive correlation with the S&P 500, as market participants anticipate a 25-basis-point rate cut from the Federal Reserve on Wednesday.
The AUD/JPY cross extends the decline to near 97.80 during the Asian trading hours on Wednesday.
Gold (XAU/USD) attracts some sellers during the Asian session on Wednesday and moves away from the all-time peak, levels just above the $3,700 mark touched the previous day.
The US Federal Reserve is expected to cut the policy rate for the first time in 2025.
