Daily Alert – Tuesday 16th November 2021: UK Unemployment Rate boosts GBP

Mark NugentNov 2021

Daily Alert – Tuesday 16th November 2021: UK Unemployment Rate boosts GBP

Good morning traders.

Yesterday saw a quiet start to the week with little to trouble asset prices.

This morning, we have had a positive print on the UK Unemployment Rate which has boosted the GBP. The Reserve Bank of Australia, in their Meeting Minutes, re-iterated for the billionth time that there will be “no hike to cash rate until wage & inflation criteria are met”. This is proper guidance from a Central Bank. Andrew Bailey – take note please.

Later today we have US Retail Sales which, as an early warning signal for inflation, can move the markets.

Right now, I see WYI (oil) moving up from support. My enthusiasm is tempered by the fact that current pricing is pretty close to year-end estimates from multiple sources, so it may not have too far to go.

We’ll be back tomorrow.

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