UK unemployment to be unchanged at 4.7% - SocGen

Kit Juckes, Research Analyst at Societe Generale, suggests that today’s main economic data comes from the UK, with employment and wage figures due.

Key Quotes

“Slower ex-bonus wage growth (exp 2.1% vs. 2.2%) would reinforce the sense of falling real wages, while we look for unemployment to be unchanged at 4.7%. Any surprise softness in employment growth (mkt expects +21k 3m/3m) can undermine sterling.”

“EUR/GBP is poking its nose back above the 200-day moving average at 0.86 and teasing me with hopes that it could yet make my 0.90 target by 28 May.”