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  • Writer's pictureanalysiswatch

Economic Data form the UK to put the pound in Focus…

In calm day in the economy calendar, employment data from the UK will concentrate attention on the oud later today.

At the same time the Japanese yen decreased by 0.10% to ¥108.28 compared with the US dollar in the contrary of the Kiwi Dollar that increased by 0.17% to $0.7197.

However, the day will be full for the economic calendar especially for the pound. First of all, the unemployment rate in the future will be release along with average wages and claimant counts.

Secondly, aside from the calendar, any sudden increase in new COVID-19 cases as a result of the easing of lockdown steps would put the Pound's support to the test. When the article was written the Pound decreased by 0.02% to 1.3989$.

Meanwhile, the British lawmakers examine how banks handle small businesses during pandemic. Due COVID19 the British Lawmakers said on Tuesday that top banks can face legal action in order to make it easier for small businesses to access capital to open accounts. "The various players in this space - the government, lenders, and regulators - must collaborate to provide a guaranteed route for companies to open accounts," McTague said at the time.

Today’s calendar didn’t only affect the GBP but it also has effects on other currencies:

· EUR: Germany’s wholesale inflation figures will be released later today, unless wholesale inflationary pressures pick up significantly, the figures could have a minor effect on the euro.

· Loonie: Due to a lack of data, the Loonie would be at the mercy of geopolitics and market risk sentiment on the day. The Loonie was up 0.15 percent against the US Dollar at the time of publication, trading at C$1.2516.

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