JamesThatcher
Well-known member
What does the data mean to the market?
The Unemployment Rate measures the percentage of the total workforce that is unemployed and actively seeking employment during the previous three months.
A higher than expected reading should be taken as negative/bearish for the GBP, while a lower than expected reading should be taken as positive/bullish for the GBP.
See the report history here
I will use forecasts of:
Avg Earnings - ex bonus 3.8
ILO Unemployment Rate (3Mths) 4.10
Today's trade plan
I would like to see a deviation of at least 0.2 on the Unemployment Rate with a supporting deviation from Average Earnings of at least 0.2% If we get these conditions we should see a sustained move lasting a few minutes after the release.
Tradable pairs
EURGBP
GBPUSD
Hope this helps but please do your own analysis!!
Good luck!!
James Thatcher
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
