The Pound remains under pressure. Overview for 18.10.2017

The GBP/USD pair has been falling for the third consecutive trading session; investors weren’t inspired by the statistics.

The British Pound continues weakening against the USD on Wednesday. The current quote for the instrument is 1.3181.

Today’s statistical reports published by the United Kingdom were interesting, but didn’t impress investors at all. They are still deeply impressed by the speech delivered yesterday by Mark Carney, the BoE Governor, who told a lot of controversial and questionable things. .

The Unemployment Rate in the United Kingdom remained unchanged in August in comparison with July, at 4.3%. The Average Earnings Index expanded by 2.2% over the last three months, the same as before, but a little bit better than expected. The Claimant Count Change added 1.7K in September, although it was expected to increase by 1.2K. However, even after losing 0.2K in August, the indicator doesn’t look too impressive.

Some more pressure on the Pound comes from the US Dollar. The Dollar Index has been strengthening for the second week in a row, thus preventing other traded currencies from recovering.

In the next 24 hours, investors’ attention will be focused on the USA, where two FOMC Members, Dudley (New York) and Kaplan (Dallas), will speak. In addition to that, the country is going to report on the Building Permits, the Housing Starts, and the Federal Budget Balance.

RoboForex Analytical Department