UK unemployment rate rises from 7.7 to 7.9 % in October

Discussion in 'Economics' started by ASusilovic, Dec 15, 2010.

  1. Britain’s unemployment rate unexpected jumped from 7.7% to 7.9% in October. This is a retreat to previous levels – the drop to 7.7% wasn’t expected two months ago. The more fresh figure, Claimant Count Change, which reflects the number of people claiming for unemployment benefits in November, dropped by 1200, slightly worse than a drop of 2700 that was expected.

    GBP/USD is now trading at 1.5726, dropping from 1.5760 earlier. The pair is still in the same trading range. Minor support is a found around 1.5720. Much stronger support appears at 1.5650. Looking up, fresh optimism could send cable towards 1.5840, followed by 1.60.
  2. Hope feels better than despair. :cool: