The Pound is fighting for stability. Overview for 18.02.2020

After falling for three consecutive trading sessions, GBPUSD is recovering. 

The British Pound is stable against the USD on Tuesday afternoon. The current quote for the instrument is 1.3033. 

Earlier today, the United Kingdom reported on its employment sector. The first indicator, the Average Earnings Index, added only 2.9% 3m/y after expanding by 3.2% over the previous period and against the expected reading of +3.1%.  

The Claimant Count Change showed 5.5K in January after being 14.9K in December and against the expected reading of 20.2K. It’s interesting that the Employment Change in the United Kingdom added 180K (the total number is 32.934M), thus indicating the stability of the labor market no matter how uncertain the overall economic environment in the country is. 

Full-time employment and self-employment were also pretty solid. 

The Unemployment Rate remained unchanged at 3.8%. However, it wasn’t expected to change. 

These statistics were an outright gift because there are no other causes for optimism in the British economy right now.