UK Claimant Count Change again lower this month by about 10k, a bit less than last month, and also the Unemployment Rate was 0.1% lower as well.
GBPUSD had rallied from 1.5472 to 1.5525 ahead of the news, in the 1st half hour after the london open on news of a uk clearer on the bid, as soon as that news hit the retail wires the move reversed back to the 1.5500 figure, but glided back up to the highs as the news approached.
On the release there was a 10-15 pip pop and then things sold off gradually down to 1.5480...Risk is still quite off after Merkel comments yesterday limiting the upper range of the ESM and Beranke warning shot which caused a further sell-off
Here the figures:
Claimant Count Rate
Estimates: Median 5.1% Average 5.1% Range 5.0% to 5.2%
Actual: 5.0% Prior: 5.0%
Jobless Claims Change
Estimates: Median +13.7k Average +13.7k Range +3.0k to +20.0k
Actual: +3.0k Prior: +5.3k Revised: +2.5k
ILO Unemployment Rates (3 mths)
Estimates: Median 8.3% Average 8.3% Range 8.2% to 8.4%
Actual: 8.3% Prior: 8.3%
Average Weekly EArnings 3M/YoY
Estimates: Median 2.0% Average 2.0% Range 1.9% to 2.3%
Actual: 2.0% Prior: 2.3%
Weekly Earnings exBonus 3M/YoY
Estimates: Median 1.7% Average 1.7% Range 1.4% to 1.8%
Actual: 1.8% Prior: 1.7%
Here is a chart (5 sec):
and also a 1 minute chart to see more about what happened. this move occurred on all the pairs, just general US Dollar strength, basically the UK Clearer probably the news before everyone else and bought ahead of the release, then trappped a bunch of longs afterwards. Thin christmas volumes continue, marketmaker heaven. The News did little to strengthen the pound, market ignored it, except those privy to the leak using it for market making purposes.
Wednesday, December 14, 2011
UK Claimant Count Change - Lower again but probably leaked
Labels:
Claimant Count,
GBPUSD,
UK
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