Slightly worse than expected wage data from Britain: wages remain at a 3% gain instead of 3.2% expected. Excluding bonuses, they fell to 2.5%, worse than 2.7% predicted. The unemployment rate came out better than expected with a drop to 5.3%. For October, jobless claims rose by 3.3K, worse than 1.5K expected.
GBPUSD dips to 1.5140. It already traded at 1.5185 earlier in the day.
The miss on wages is not devastating. In the US, also a country that is growing and approaching a hike, wages broke higher only recently and the figure is 2.5%.
The Claimant Count Change was dropping at a fast clip during quite a few long months, but then it stabilized and they even rose. However, the bigger picture remains positive with general employment rising.
The UK was expected to print a rise of 3.2% in wages in September after 3% in August. Ex-bonuses, 2.7% from 2.8% was predicted.
Preview: trading the UK wages with GBP/USD.
