No sign of Brexit yet - Forex News by FX Leaders

No sign of Brexit yet

Posted Wednesday, September 14, 2016 by
Skerdian Meta • 1 min read

It´s always interesting to see the UK economic data, especially the July data, which is the month after the Brexit vote. We know that there was great panic and uncertainty during that month and the business, which is the most sensitive part of the economy was calling it quits.

Now, about three months after the vote, the situation has changed and everyone is feeling a bit more relaxed, but at that time the business was suffering, mostly due to its own predictions which turned the sentiment very negative.

Now, the employment figures for July are released and they´re as they used to be before the Brexit referendum. There´s no sign of weakness or panic on the employment front. The unemployment claims are insignificant and the wages are holding up well, mind you, those are the earnings numbers for the quarter, so July might not have that great of an impact.

The GBP survived another round of economic data

Anyway, the panic and the weakness we saw in the businesses in July doesn´t translate into weaker job numbers so quickly. We have to wait for the August data, which will be released in a month time, in order to see if that panic spilled over to the labour market or if it was an isolated event. meanwhile, the GBP had a little wobble but is fine now.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
Related Articles
Comments

Leave a Reply

avatar
  Subscribe  
Notify of