UK Data Released
Written March 18, 2009 at 5:35 AM EST by Danish FX
The UK Claimant Count came out at 1.38.4K from the previous 73.8K. A rise to 84.5K was forecast.
The UK MPC Meeting Minutes were released at 0-9-0 from the previous vote of 0-9-0. No change was forecast.
The UK Average Earnings Index came out at 1.8% from the previous 3.2%. A drop to 3.0% was forecast.
The UK Unemployment Rate came out at 6.5% from the previous 6.3%. A rise to 6.5% was forecast.
The GBP hit further session lows as the currency softened up across the board following these poor British economic numbers, especially as the Claimant Count missed forecasts.
***BOE MINUTES: MPC VOTED 9-0 TO CUTS RATES BY 50BPS TO 0.5% AND TO PURCHASE ASSETS ON MAR 5TH
- Substantial risk remained of infltion undershoot
- Housing activity subdued
- Agreed UK neeed new mney in range of £50B to £100B; small injection might show tol is ineffective
- Some signs that UK recession on track to ease in 2009
- Rising money supply will cause spending to rise
- Overnight rate likely to trade in 0.0% to 0.5% range
- Housing activity subdued
- Agreed UK neeed new mney in range of £50B to £100B; small injection might show tol is ineffective
- Some signs that UK recession on track to ease in 2009
- Rising money supply will cause spending to rise
- Overnight rate likely to trade in 0.0% to 0.5% range
Categories: Forex News | Tags: British Economy, Claimant Count, MPC Meeting Minutes, Unemployment Rate
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