Today sterling is weaker against both the euro and the dollar following last week’s GDP data.
No UK data is being released today, however economists can expect a variety of interesting data to be released this week. Tomorrow morning the UK’s unemployment rate for June will be released.
Previous data suggests the labour market remains robust amidst increasing costs of living as the unemployment rate has steadily held a rate of 3.8% for 3 months. Tomorrow’s rate is forecast at 3.8%
The claimant count change will also be released tomorrow morning. The number of people claiming unemployment benefits in the UK is on the decline and predicted to stay this way. In May, markets witnessed the rate decline for a 16th consecutive month as the labour market continued to recover from the coronavirus pandemic. It is currently forecast at -10K .
On Wednesday, the latest inflation figures for the UK will be released.
