Technical Analysis

UK labour market report on the agenda today


Major currencies are mostly little changed with the dollar continuing to hold steadier to start the new week. USD/JPY is little changed around 128.60 after a bit of volatility earlier with the BOJ stepping into the bond market once again. All eyes will be on the central bank’s policy decision tomorrow and that remains the key risk event in trading this week.

US markets will be back in action today and stocks will stay as a focus point as well with the S&P 500 having ran up against key resistance levels at the end of last week. But futures have tilted slightly lower since yesterday, so we’ll see how Wall Street picks up from that later in the day.

Looking ahead, we’ll have the UK labour market report on the agenda today but it should just reaffirm that employment conditions are still holding up despite an economic slowdown beckoning. There will also be German final inflation and ZEW economic sentiment to fill the hours.

0700 GMT – Germany December final CPI figures
0700 GMT – UK December payrolls change
0700 GMT – UK November ILO unemployment rate, employment change
0700 GMT – UK November average weekly earnings
1000 GMT – Germany January ZEW survey current conditions, outlook

That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.

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